Milestone acquires ruling share in Invik Skip to content

Milestone acquires ruling share in Invik

Icelandic investment company Milestone acquired a controlling share in the Swedish financial company Invik & Co. on Thursday and has at the same time made other shareholders a cash offer for their shares.

Milestone’s takeover is one of the largest an Icelandic company has ever made, with the total value of the acquisition estimated to be over ISK 70 billion (USD 1.1 billion, EUR 796.1 million), as stated in a press release issued by Milestone this week.

With the purchase of a 26 percent share in Invik, Milestone has secured 63 percent of the voting rights in the company and, following the acquisition, has made other shareholders a takeover offer.

Invik is listed on the Nordic Stock Exchange (OMX) in Sweden and Milestone has announced plans to de-list the company.

Invik is a Swedish-based financial group with a broad product profile on the local financial and insurance market and has a private banking branch in Luxembourg. The company has been growing rapidly in the last few years.

Click here to read more about Milestone’s recent business moves.

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