Davidson Kempner – the largest individual shareholder of Nynas
A binding agreement has been signed by an investment vehicle managed by Davidson Kempner for the acquisition of the entire equity stake in Nynas from Bitumina Industries Limited.
Image for illustration purposes
Stockholm, Sweden: A binding agreement has been signed by an investment vehicle managed by Davidson Kempner Capital Management LP for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited.
Following completion of the acquisition, Davidson Kempner will be the largest individual shareholder of Nynas. It is a US registered institutional investment management company with more than 35 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has over $36 billion in assets under management with over 400 professionals in five offices, including New York, Philadelphia, London, Hong Kong and Dublin.
Davidson Kempner played an active role in the financial restructuring of Nynas which was undertaken during the second half of 2020. It has since played an ongoing role in the financing of Nynas, providing further loan facilities to support Nynas working capital requirements and putting Nynas on a solid financial footing.
Nynas President & CEO Bo Askvik stated that Nynas is very satisfied with the results in the first half of the current year and that they will continue to pursue their mission to deliver long lasting, high performance specialty products for sustainable use in the industry with the support of Davidson Kempner.
Source: Nynas