In July 1996 Orrefors Kosta Boda and Royal Copenhagen entered into an agreement which among other things implied that the companies on certain markets joined efforts in developing sales and distribution and approached the most important markets outside Scandinavia with greater effect.
In December 1996 a consortium consisting of Scandinavian Equity Partners, Proventus and Royal Copenhagen acquired all shares in Orrefors Kosta Boda through a new company, Orrefors Kosta Boda Holding, of which Scandinavian Equity Partners and Proventus each owned 42,5 % and Royal Copenhagen 15 % of the share capital. It was the intent of the consortium to further develop the co-operation established in July 1996 between Royal Copenhagen and Orrefors Kosta Boda, and it was agreed that the parties would assess the co-operation between the owners after one year.
As part of the discussions between the owners an agreement has been reached today that Scandinavian Equity Partners and Royal Copenhagen as per 1st October this year each will acquire half of the shares of Proventus in Orrefors Kosta Boda Holding, so that Scandinavian Equity Partners will own 63,8 % and Royal Copenhagen 36,2 % of the share capital.
Scandinavian Equity Partners and Royal Copenhagen will now discuss the future ownership structure based on a "Swedish-Danish" solution providing the opportunities for an international expansion of Orrefors Kosta Boda and thus a positive development of Swedish art glass industry. Information about the final clarification of the ownership will be given in the near future.
Scandinavian Equity Partners Royal Copenhagen