Ferd Group buys 89% of the shares in Mestergruppen AS.

Ferd Capital announced its intention to buy 89% of the shares in Mestergruppen AS.

As the deadline for accepting Ferd Capitals offer for the purchase of all shares in Mestergruppen AS expired on April 2, 2011, acceptance of a total of 89% of the shares was received.

The price of 172 kr per share corresponds to a total investment of NOK 360M.

In connection with the transaction, a shareholder agreement has been entered into with shareholders who together with Ferd will own 95% of the shares in the company.

Mestergruppen is a solid company in strong growth. Revenue growth in 2010 was 13% and organic growth so far in 2011 is 17%. Mestergruppen has a clear strategy against the professional market and an attractive business model consisting of land development, house and cottage chains and construction products.