Netel Holding AB (publ)

Polar Advisory is acting as financial advisor to Netel Holding AB (publ) in the statutory merger with Infrea AB (publ) and the fully secured rights issue of SEK 127m and overallotment issue of up to SEK 75m. Existing owners and new investors subscription commitments of SEK 127m include SEK 74m commitments in excess of pro rata shares.

Netel and Infrea jointly announced that they intend to implement a merger between the companies in accordance with the Swedish Companies Act.

The merger will create a leading Northern European platform for infrastructure services with total revenue of approx. SEK 5 bn and will also generate significant synergies and strategic advantages, as the companies complement each other in terms of service offering and customer exposure, whilst operating in partly distinct geographical markets.

In connection with the merger, Etemad Group AB will substantially increase its ownership in order to be a leading, active and long-term shareholder in the combined company with support from the other major shareholders.