CapMan Buyout X, L.P., a fund managed by CapMan Oyj (HLSE:CAPMAN), Varma Mutual Pension Insurance Company and Finnish Industry Investment Ltd entered into an agreement to acquire 70% stake in KotiSun Oy from Panostaja Oyj (HLSE:PNA1V) and other shareholders on December 19, 2017. Under the terms of the transaction, the total debt-free sale price of shares sold is estimated by Panostaja to be €88 million, of which Panostaja's share after the deduction of interest-bearing net liabilities and costs related to the sale will be approximately €40.7 million. As part of the transaction, Panostaja is selling its entire 56.6% stake in KotiSun to the CapMan fund by virtue of trade, making CapMan the majority owner of KotiSun. KotiSun Group's management will retain the balance 30% stake while Varma Mutual Pension Insurance Company and Finnish Industry Investment will take minority ownership alongside CapMan in KotiSun. Panostaja will finance the buyer with credit in the amount of €1.5 million.

For the twelve month period ending October 31, 2017, KotiSun recorded net sales of approximately €42.46 million and EBIT of approximately €6.59 million. As on October 31, 2017, KotiSun's balance sheet recorded total assets of €34.97 million and equity of approximately €13.07 million. As on December 19, 2017, the transaction is pending approval from competition authorities and is expected to close by January 31, 2018. As of January 9, 2018, the Finnish Competition and Consumer Authority approved the transaction and the deal is expected to close on January 17, 2018.

CapMan Buyout X, L.P., a fund managed by CapMan Oyj (HLSE:CAPMAN), Varma Mutual Pension Insurance Company and Finnish Industry Investment Ltd completed the acquisition of 70% stake in KotiSun Oy from Panostaja Oyj (HLSE:PNA1V) and other shareholders on January 17, 2018.