Siba merges with Netonnet and prepares for an IPO.
This is reported by Dagens Industri in Saturday’s paper.
According to the paper, the two chains are put in a separate owner company, owned by the Siba-family’s holding company Waldir who took Netonnet off the stock exchange after a buyout.
SEB and ABG Sundal Collier has been commissioned to manage the listing of the new company, writes the paper.
The two brands are expected to remain as separate chains, but with further synergies. After Waldir’s buyout there has been a consolidation in the product range and Siba stopped selling white goods.
Siba broke the trend of red numbers last year and reported an operating profit of 41 million SEK for the split fiscal year September 2013 to August 2014. Sales for the period amounted to 2.6 billion SEK
Netonnet announced record figures with a revenue of 3.3 billion SEK and an operating profit (EBITDA) of 68 million SEK.
The IPO is expected to take place after the summer.