A Descriptive Analysis of Public-to- private transactions in Finland between 2004 and 2024

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bachelor_Anttila_Samuli_2024.pdf (1.35 MB)

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School of Business | Bachelor's thesis
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Date

2024

Department

Laskentatoimen laitos

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Mcode

Degree programme

Laskentatoimi

Language

en

Pages

34+10

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Abstract

This bachelor’s thesis studies descriptively the Finnish companies that have gone private through Public-to-Private (PtP) transactios over the course of the last 20-years. The data consists of 52 Finnish companies that have gone private through such transaction. In addition to this data two semi-structured interviews were conducted with CFO`s of companies that went private with a PtP-transaction during this time. The study builds on existing literature on the subject but offers a new perspective with a descriptive take on the Finnish PtP-market, which has received limited attention in past studies. The results suggest that PtP-companies have had a more centralized ownership, often involving individuals, corporations and families as major shareholders when compared to OMX Helsinki 25 listed companies. In addition, the results show that the presence of PE within PtP-deals has risen between the two decades analysed. Various other differences and similarities are found to exist between the data of this study, the conducted interviews, and the existing literature.

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Thesis advisor

Keloharju, Roope

Keywords

public-to-private transactions, management buyouts, leveraged buyouts, IPOs, the future of the public market, Finland, private equity, ownership

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https://urn.fi/URN:NBN:fi:aalto-202501191350

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[kand] Kauppakorkeakoulu / BIZ (Open Access)