Swedish software company Fortnox has installed a new board of directors, cementing a takeover by a consortium led by private equity firm EQT.
At an extraordinary general meeting on Wednesday, shareholders elected four new members, including Harry Klagsbrun as the new chairman, the company said.
The other new board members are Olof Hallrup, Christian Shin Høegh Andersen, and Adam Scheid, who will all serve until the next annual general meeting.
The meeting was requested by the EQT-led consortium, which now controls more than 90% of Fortnox's shares following a public offer, according to a company statement.
This is an increase from the 80.5% stake the bidder said it would hold after the offer settled in June.
The consortium's public cash offer in March valued Fortnox at 54.9 billion Swedish kronor.
At the time of the offer, the bidder said its plans did not include any material changes to Fortnox's operations or its management and employees.
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