Cardinal Foods to sell its subsidiary Norsk Kylling

CapMan Press Release 15 March 2011 9.00 a.m. EET

Cardinal Foods to sell its subsidiary Norsk Kylling

CapMan's Norwegian portfolio company Cardinal Foods, in which CapMan Equity VII funds are a principal shareholder, has signed an agreement to sell its subsidiary Norsk Kylling to REMA Industrier.

CapMan funds made their initial investment in Cardinal companies, including Norsk Kylling, in 2005. A significant part of the sales proceeds from the sale of Norsk Kylling will be distributed to the shareholders of Cardinal Foods, making the investment very good for the investors in the CapMan funds. CapMan's ownership in Cardinal Foods remains unchanged after the present transaction is closed. The closing of the transaction requires the approval from competition authorities. More information about the sale is available in Norwegian on Cardinal Foods' website at www.cardinalfoods.no.

Further information:
Kai Jordahl, Head of CapMan Buyout, Senior Partner, and Chairman of the Board of Cardinal Foods ASA, tel. +47 23 23 75 71

CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.5 billion. CapMan has four key investment areas - CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether CapMan employs 150 people in Helsinki, Stockholm, Oslo, Moscow, Copenhagen and Luxembourg. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.

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