EQT is pleased to announce that EQT Public Value (“EQT Public Value”) has acquired 6.6 million shares in Storytel AB (“Storytel” or “the Company”), representing an ownership of close to 10 percent of shares outstanding. Joakim Rubin, Partner within EQT Public Value Advisory Team, is nominated to join the board of directors, subject to approval of an extraordinary general meeting.
EQT is a purpose-driven global investment organization with more than EUR 71 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
Storytel, listed on Nasdaq First North has a strong track record of organic and inorganic growth in the large and fast-growing audiobook market. Storytel is one of the world’s largest subscribed audiobook and e-book streaming services and offers listening and reading of more than 700,000 titles on a global scale. The Company’s vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel’s streaming business is conducted under the brands Storytel and Mofibo. Storytel’s publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People’s and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.
EQT Public Value seeks to identify minority investments in public companies with market leading positions, strong management teams and significant potential for top-line and earnings growth. Through shareholder engagement, EQT Public Value aims to work closely with existing shareholders, boards and management teams in order to allow that companies reach their full potential and deliver shareholder value. In addition to Storytel, EQT Public Value has previously disclosed positions in Securitas, BHG Group, Storebrand, Biogaia and AFRY.
The EQT Public Value advisory team looks forward, pending the Extraordinary General Meeting, to working together with shareholders, board and management on the next phase of Storytel’s growth journey.
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