Elektroimportøren (Buy, TP: NOK95.00) - Entry into Sweden
Elektorimportøren just announced its entry into the SEK15bn Swedish market with an agreement to acquire Elbutik.se. Although the transaction multiples look high relative to Elektroimportøren’s multiples, they are supported by multiples for online retailers, and we see a great strategic fit for Elektroimportøren as it should be able to tap into a SEK15bn market with an already established brand.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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