HongShan Capital Group, also known as HSG, has announced the acquisition of a majority stake in Marshall Group, a company specializing in the development of audio equipment technology products. Telia, a telecommunications company from Sweden, will sell 9.6% of its shares in Marshall to HongShan for approximately 105 million dollars, valuing the business at 1.15 billion dollars. Additionally, other major shareholders will also be selling their shares to HongShan.
Following the completion of the share acquisition, the Marshall family, who founded the company, will still retain approximately 20% of the shares. Taro Niggemann, the fund manager at HongShan in Europe, stated that the company will collaborate with the Marshall family to expand their products to customers worldwide, as they currently operate in 90 countries.
Source: Reuters and Marshall Group
TLDR: HSG has acquired a majority stake in Marshall Group, with Telia selling 9.6% of its shares to HongShan. The Marshall family will retain around 20% of the shares, and plans to expand their products globally with the help of HongShan.
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