Mandate Vinge advises AB Novestra in connection with its in kind acquisition of Strax Group GmbH and change of name to Strax AB

Vinge has advised AB Novestra (publ) (“Novestra”) in connection with its acquisition of Strax Group GmbH. The acquisition was approved by the annual general meeting of shareholders in Novestra on April 26, 2016 and the general meeting also resolved to change the name of the company to Strax AB. The acquisition of the shares in Strax Group GmbH was made by an issue in kind where the purchase price consisted of 80 571 293 newly issued shares in Novestra. The newly issued shares were admitted to trading on Nasdaq Stockholm, Small Cap, on May 12, 2016 under the new ticker STRAX.

Strax is a global specialist within mobile accessories with own brands, such as Xqisit, Gear4, Urbanista, Agna and Avo. The own brands are complemented with OEM brands, aftermarket brands, licensed brands and an end-to-end service offering. In total, Strax has in excess of 600 B2B customers worldwide, including customers such as Dixons Carphone, Staples, Swisscom, Telenor, T-Mobile and Amazon. Strax operates through subsidiaries in Germany, France, UK, Sweden, Norway, Denmark, the Netherlands, Switzerland, Poland, the US, Hong Kong and China.

Vinge’s team primarily consisted of Jesper Schönbeck, Rikard Lindahl, Matthias Pannier and Malte Hedlund.