Swedish private equity firm Altor said on Wednesday it had agreed to sell its stake in Danish food services firm Euro Cater to a group of reinvesting employees that have partnered with investment firm Intermediate Capital Group PLC.
Altor said in a statement it expected to finalise the deal, which was subject to approval from competition authorities, in the second quarter.
J.P. Morgan acted as financial adviser and Bech-Bruun as legal advisor for the seller of Euro Cater, which has sales of about 7.2 billion Danish crowns ($1.26 billion).
Euro Cater is a food services company with operations in Denmark and Sweden and sales of 7.2 billion Danish crowns ($1.26 billion).
