Sale of Backstube (NO) to Jordanes AS (NO) – Amount not disclosed

Carnegie acted as sole financial adviser to Backstube and its owners (Fehmab AS) in the sale of the company to Jordanes. Backstube is a Norwegian bakery concept offering a wide variety of Western- and Central European bakery products in top locations at reasonable prices. Founded in 2016, Backstube has now established more than 30 bakeries across Norway – both in larger cities like Oslo and Bergen and smaller cities from the Oslo-area to Tromsø, in addition to a franchise concept with WH Smith at Oslo Airport Gardermoen.