Norvestia - Other information disclosed according to the rules of the Exchange

NORVESTIA’S EXIT FROM IDEAN ENTERPRISES OY HAS BEEN COMPLETED

Helsinki, Finland, 2017-03-01 12:30 CET (GLOBE NEWSWIRE) -- 

Norvestia Oyj        Stock Exchange Release       1 March 2017 at 13:30

NORVESTIA’S EXIT FROM IDEAN ENTERPRISES OY HAS BEEN COMPLETED

The exit from Idean, as Norvestia announced 16 February 2017, has been
completed. The exit has a significant positive effect on cash flow in the first
quarter of 2017. 

31 December 2016, Norvestia’s Net Asset Value (and shareholders’ equity) was
EUR 124.6 million. In the first quarter alone, the effect of the sale on Net
Asset Value corresponds to approximately 6 per cent and according to market
practice, the final purchase price is determined in the next two years
following the closing. The parties have agreed not to disclose the purchase
price. 

Helsinki, 1 March 2017

NORVESTIA OYJ

DISTRIBUTION
Nasdaq Helsinki
Main media

More information:
Norvestia Oyj / Juha Mikkola, Senior Investment Director, p. +358 50 590 0522,
juha.mikkola@norvestia.fi 



Norvestia Oyj is a publicly listed investment company. Norvestia’s twofold
investment strategy consists of market investments and Growth Equity. Growth
Equity investments are made in Nordic unlisted companies, growth-oriented
listed companies and private equity funds. The target of Norvestia’s Growth
Equity investment activities is to be an active investor together with other
main owners, and increase the value of the target company. Investments are
long-term and no strict time limit are set for exits. Norvestia’s Growth Equity
portfolio consists of Aste Helsinki, Coronaria Hoitoketju, Digital Workforce
Services, Fluido, Polystar Instruments and Touhula Varhaiskasvatus. In
addition, the company has investments in private equity funds. Norvestia is a
subsidiary in the CapMan Group since 19 December 2016. www.norvestia.fi 

Idean Enterprises Oy is a Finnish-born company specialized in the design of
digital services and user experiences, whose customers include world-leading
companies in Europe, the US and Asia. Hundreds of millions of people all around
the world use the services designed by Idean. In 2016, Idean’s revenue amounted
to EUR 25 million of which 70% came from international markets. Idean’s studios
are located in Finland (Helsinki, Tampere), Germany (Berlin) and in the US
(Palo Alto, San Francisco, Los Angeles, Austin (TX) and New York). The company
employs over 150 people. www.idean.com