1. Start
  2. English
  3. Press
  4. Press releases
  5. Humana completes the acquisition of Team Olivia Norge AS

Humana completes the acquisition of Team Olivia Norge AS

Humana has completed the acquisition of Team Olivia Norge AS. The acquisition is expected to contribute to lower operational risk through a more diversified customer base and broader geographical exposure.

After the Norwegian Competition Authority, as previously communicated, approved the acquisition of Team Olivia Norge AS, the acquisition has been completed. The purchase price is financed with million SEK 236 from existing cash and an issue in kind of ordinary shares to Team Olivia AB (the “Seller”), resolved by the Board based on authorisation from the annual general meeting held 9 May 2023. Through the issue in kind, 4,000,000 new shares are allocated to Team Olivia AB.

Team Olivia Norge AS will be included in Humana's accounts from 3 June 2024. The full-year revenues for 2023 amount to million SEK 913[1], and the target company has approximately 840 employees (FTE).

Issue in kind and lock-up

As part of the financing for the acquisition of Team Olivia Norge AS, Humana has decided on an issue in kind for a total of 4,000,000 shares allocated to the Seller. Through the issue, the total number of shares in Humana has increased to 51,826,058. The newly issued shares represent approximately 7.7 percent of the total number of shares and votes in Humana on a fully diluted basis. All shares issued are subject to lock-up restrictions, which among other things, means that Team Olivia AB has agreed to not sell any shares in Humana before the earlier of i) 180 days following completion of the Transaction and ii) the date of Humana's publication of the third-quarter interim report.

For more information, please contact:

Johanna Rastad, President & CEO of Humana, +46 707-48 20 44, johanna.rastad@humana.se

Ewelina Pettersson, Head of Investor Relations, +46 730-74 79 12, ewelina.pettersson@humana.se

[1)] Based on an FX rate of 1.0054 NOK/SEK.