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Candover joins Eyrir, Landsbanki in €1.5bn Stork deal28/11/2007. Source: AltAssets. 
 A few months on from Candover's withdrawal of its €1.5bn offer for Dutch company Stork, the firm, along with along with Icelandic investment firms Eyrir Invest and Landsbanki Islands, has agreed to acquire Stork for €48.40 per share, in a deal again worth with around €1.5bn. As part of the deal, Stork Food Systems is to be sold to Marel Food Systems for €415m, on a cash and debt-free basis.
Marek Gumienny, managing director of Candover, said. 'We are delighted that we have been able to reach an agreement that will allow us to push ahead with our plans to invest in Stork - a company with great businesses and strong positions in growth markets. We believe this is the best way forward to end what has been a prolonged period of uncertainty for the business and all its stakeholders.'
Sjoerd Vollebregt, CEO of Stork, added, 'The situation around Stork became more and more complex. I'm pleased that we jointly succeeded to find a solution that is realistic and feasible.'
Candover are making the investment from its €3.5bn Candover 2005 Fund. The fund has made eight investments to date, including the $565m buy-out of Capital Safety Group, the €1bn acquisition of Hilding Anders and the €480m buy-out of EurotaxGlass's Group.
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