STOCKHOLM, Sweden, May 17, 2002 (PRIMEZONE) -- EQT Northern Europe private equity fund has today finalised the acquisition of the shares in the Finnish-based Lillbacka Corporation ("FINN-POWER") from Mr. Jorma Lillbacka. Closing of the deal had been conditioned upon approvals from regulatory authorities, which now are in place. Mr. Arto Pohto has been nominated as the new CEO of the company. The Board of Directors will include Mr. Frans Boch, Jorma Lillbacka, Massimo Rossi, Andreas Tallberg, Sakari Tamminen and Pentti Yliheljo. Mr. Yliheljo will be the Chairman of the Board.
EQT Northern Europe Limited
EQT is a group of private equity funds with equity commitments exceeding EUR 3 billion and is sponsored by Investor AB, the publicly listed holding company of the Wallenberg foundations. EQT Partners, acting as investment advisor to all EQT funds, has offices in Stockholm, Copenhagen, Helsinki and Munich. The business concept of EQT is realised by acquiring and developing high-quality medium sized companies in Northern Europe. EQT serves as an active owner and works in close co- operation with the management of the companies it acquires, to develop and implement value-enhancing strategies.
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