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Coor Service Management to list in Stockholm

Reuters - UK Focus

STOCKHOLM, May 22 (Reuters) - Nordic facilities management firm Coor Service Management said on Friday it would list on the Nasdaq Stockholm exchange probably some time in the second quarter of 2015.

The company, owned by private equity firm Cinven, said it would sell its industrial services unit before listing to focus on facilities management such as property services, logistics and strategic consulting.

Coor had revenues of 6.8 billion Swedish crowns ($818.60 million) in 2014 with adjusted core profit (EBITA) of 354 million. The figures exclude the industrial services unit.

Nordea and UBS (NYSEArca: FBGX - news) act as joint global coordinators and joint bookrunners in the listing, while DNB Markets and SEB (Paris: FR0000121709 - news) are joint bookrunners.

($1 = 8.3069 Swedish crowns) (Reporting by Johannes Hellstrom; Editing by Simon Johnson)