The two Swedish-founded companies, Instabox and Budbee, announce their intention to join forces under a new holding company, Instabee.
The value of Instabee is set at SEK 18 billion. The founders, together with Kinnevik, will be the largest investors, a list that also contains Creades, EQT, Verdane, AMF, Stena Sessan, H&M, CNI Nordic, and Tham Invest, among others.
The transaction is subject to customary competition approval and is expected to close during 2022.
Swedish law Mannheimer Swartling has advised Instabox during the transaction.
Instabox and Budbee join forces in the new combined company Instabee – Mannheimer Swartling
