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MeldingsID: 414595
Dato/tid 25.11.2016 08:00
Utsteder Hospitality Invest AS
UtstederID HOIN
Instrument HOIN01
Marked OB
Kategori INNSIDEINFORMASJON
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Vedlegg
Tittel Hospitality Invest - Corporate reorganisation, contemplated acquisition of minority interests and bond issue
Tekst
Oslo - 25 November 2016

Corporate reorganisation, contemplated acquisition of minority 
interests and bond issue 

Over the last years, Hospitality Invest AS ("Hospitality 
Invest") has observed a positive development in all its 
investments within the care segments, and at the same time, the 
group companies have entered into new geographical areas. 

Hospitality Invest strongly believes that the core segments in 
which it is invested will continue to experience a positive 
trend in the Nordic and European countries in the years to come. 
In order to arrange for the continued growth in its current 
investments in the care segments, Hospitality Invest intends to 
consolidate all its holdings within the preschools, care, 
individual & family and integration services segments under its 
fully-owned and newly incorporated subsidiary to be named 
Norlandia Health & Care Group AS (NHCG). 

After the reorganisation, NHCG plans to acquire all outstanding 
minority stakes in Norlandia Care Group AS, Kidsa Drift AS, Hero 
Group AS and Aberia Healthcare AS (all companies collectively 
referred to as "Norlandia"), and Hospitality Invest will 
simultaneously contribute its majority shareholdings in the same 
companies as equity in kind to the NHCG. 

Norlandia will become a leading player in the Nordic private 
care market with more than eight thousand employees and 2016e 
revenues of NOK 5,500 million. The company is expected to 
benefit from significant synergies between its segments and 
vastly improved diversification across geography and product. 

Contemplated bond issue
In relation to the transaction described above, Norlandia is 
contemplating the issuance of a senior secured bond in the 
Nordic bond market with maturity in 2021. The bond issue will be 
equivalent to NOK 1,750 million, and will consist of a NOK 
and/or a SEK tranche. 

The net proceeds from the contemplated bond issue will be used 
to:
- Repay approximately NOK 844 million of current debt, including 
Norlandia Care Group AS' NOK 650 million bond maturing in April 
2018 (OSE: NCG01), which will be called in connection with a 
successful placement of the new bond; and
- Finance the acquisition of shares in Norlandia Care Group AS, 
Kidsa Drift AS, Hero Group AS and Aberia Healthcare AS from 
minority shareholders; and 
- General corporate purposes.

Consolidated overview of the financial position of Norlandia for 
the period from 1Q-3Q16, estimates for 4Q16 and full year 2016 
are included in the attached file. 
 
ABG Sundal Collier, DNB Markets and Pareto Securities have 
been appointed as Joint Lead Managers of the contemplated bond 
issue.

For further information, please contact:

Kristian Adolfsen, Chairman
Tel: +47 22 98 97 40 
kristian@norlandia.no

Yngvar Tov Herbjørnssønn, CEO
Tel: +47 91 83 71 89
Yngvar.Tov.Herbjornssonn@norlandia.com

Kristoffer Lorck, CFO
Tel: +47 93 02 88 18
kristoffer.lorck@adolfsengroup.no

This press release is neither an offer to sell nor a 
solicitation of an offer to buy any of the bonds or any other 
security of Norlandia Health & Care Group AS. The bonds have not 
been and will not be registered under the Securities Act or any 
state securities laws. Unless so registered, the bonds may not 
be offered or sold in the United States except pursuant to an 
exemption from the registration requirements of the Securities 
Act and applicable state securities laws.

The statements in this press release that are not historical 
facts may be forward-looking statements. These forward-looking 
statements involve risks and uncertainties that could cause the 
outcome to be materially different. Norlandia Health and Care 
Group AS undertakes no obligation to revise or update any 
forward looking statements, unless required to do so under the 
securities laws.

About Hospitality Invest AS
Hospitality Invest AS is a private investment company controlled 
by Roger Adolfsen and Kristian A. Adolfsen. The company invests 
across a variety of sectors, including Hotel Operations, Care 
Services, Staffing and Real Estate. The company has a bond 
listed on the Oslo Stock Exchange under the symbol "HOIN01".

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