Telia Company has entered an agreement with HongShan Group to sell its 9.6% shareholding in Marshall Group for EUR 101 million (SEK 1.15 billion). The transaction is expected to close in the second quarter, and reflects Telia’s active portfolio management and focus on growth in its core connectivity business in the Nordics and Baltics. Telia intends to use the transaction proceeds for deleveraging purposes.
Marshall Group, formed in 2023 through the merger of Stockholm-based Zound Industries and UK-headquartered Marshall Amplification, is an audio, tech and design powerhouse uniting musicians and music lovers through genre-breaking innovation. Marshall, the company’s flagship brand, is uniquely positioned with over 60 years of rock’n’roll attitude on stage, at home and on the go.
Andreas Ekström, Head, M&A, Telia Company
Marshall Group is an exciting company with products that are popular around the world and that we sell in our direct-to-consumer stores. We became an owner of Marshall Group through an early investment in Zound Industries in 2014, and have been an active minority owner since then in close and constructive dialog with the Marshall family and other owners. This is the right moment for us to exit our holding in Marshall Group, since we are getting a fair valuation of our shares at a time when Telia’s strategic priority is to grow our core business, and Marshall Group and its talented employees can unlock its growth potential with a new majority owner.
