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Stena Adactum AB announces a mandatory public cash offer to the shareholders of Svedbergs i Dalstorp AB
For more information https://www.svedbergsbudplikt.se
Stena Adactum AB holds more than 30 per cent of the shares in Svedbergs i Dalstorp AB, thereby passing the mandatory bid threshold
This press release is not an offer to acquire shares. This press release is made in accordance with Chapter 3 section 1 of the Swedish Act on Public Takeovers on the Stock Market (2006:451).
Stena Adactum AB (“Stena Adactum”) has acquired 354,700 shares of series B in Svedbergs i Dalstorp AB (“Svedbergs”) for a maximum consideration of SEK 50 per share. Through the acquisition, Stena Adactum has attained a direct and indirect1 holding of 10,847,075 shares of series B in Svedbergs, corresponding to a holding of approximately 30.7 per cent of the shares and votes in Svedbergs2.
Through the acquisition, the mandatory bid threshold is passed, entailing that Stena Adactum is required to launch a mandatory takeover offer for the remaining shares in Svedbergs within four weeks from the acquisition, or to sell such number of shares that Stena Adactum’s shareholding represents less than three tenths of the voting rights for all shares in Svedbergs. Stena Adactum intends to launch a mandatory takeover offer for the remaining shares in Svedbergs through a separate press release, on or around 22 March 2022 at latest, for a cash consideration of SEK 50 per share.
– Svedbergs is a very fine company that continues its growth journey. We stand behind the strategy and support the company through our long-term active ownership. Based on our strong confidence in Svedbergs, we have decided to increase our ownership in the company. We look forward to continuing to work with the management and the board to develop Svedbergs, says Anders Wassberg, President and CEO of Stena Adactum.
For additional information, please contact:
Anders Wassberg, President and CEO of Stena Adactum
Tel: 073-427 08 01, e-mail: firstname.lastname@example.org
This press release was submitted for publication on 14 March 2022, at 17.00 CET.
This press release is not an offer to acquire shares. Anyone passing the mandatory bid threshold of 30 per cent of the votes in a company with shares admitted to trading on a regulated market must according to Chapter 3 section 1 of the Swedish Act on Public Takeovers on the Stock Market (2006:451) disclose the passing of the mandatory bid threshold. This press release constitutes such a disclosure.
1. Through the wholly-owned subsidiary Ballingslöv International AB.
2. Calculated to include any treasury shares held by Svedbergs (currently 14,361 shares of series B) and including 14,123,758 shares of series B issued as part of the rights issue announced by Svedbergs on 11 February 2022, whereof 4,342,375 shares of series B have been subscribed and allotted to, directly and indirectly, Stena Adactum.
Stena Adactum has during August 2021 participated in a rights issue which has raised approx. 500MSEK in the company. Stena Adactum subscribed 38% of the rights issue equivalent of 190MSEK. In September Stena Adactum acquired further 320 000 B-shares. Stena Adactum continues to be the largest owner in Midsona with 25,2 percent of the capital and 29,2 percent of the votes.
Alecta acquires 20% in Stena Renewable and together with Stena Adactum, AMF and KLP they will continue the development of the company as a major green energy company
Stena Renewable is an energy company who during the past 15 years have established a strong position within wind power projects in southern Sweden. Today the company has one of the largest operational wind power portfolios in Sweden including a total of 315MW with another 600 MW under project which are complete or under construction. The company is expected to have 900 MW in operation by 2024 as well as having a continued fast annual growth. Since the start the company has invested 5 bn SEK and during the next three years another 5 bn SEK is expected to be invested in the completion of a number of windfarms in southern Sweden. The focus on southern Sweden means a substantial contribution with renewable energy in those areas where the energy challenges are the greatest during coming years as well as in the areas with the highest electricity prices.
Having Alecta as a partner will bring an additional financial and reputable owner who will ensure the company’s future growth and add to the energy transformation which is now happening at great speed. After the acquisition the company will be owned 30% by AMF and KLP respectively and 20% by Stena Adactum and Alecta respectively. AMF and KLP came in as owners during 2018.
“By Alecta coming into the company we now have three of the Nordics leading institutional investors as partners who share our long-term view to build a large green energy company with focus on sustainability. This will ensure the company’s continued fast expansion during a phase which is even more capital consuming”, says Johan Wester, Senior Vice President Stena Adactum and Chairman of the Board Stena Renewable.
“Stena Renewable is a unique possibility for us to gain a strong position in a fast growing market, through a well positioned company by the side of like-minded partners. Next to indirect international investments these selective direct businesses like this one at home ground is completely in line with our strategy for infrastructure expected to grow as part of the portfolio”, says Johanna Strömsten, Portfolio Manager Alecta.
“After enduring project developments since 2006 we have during the past few years been in a fast growth phase where we are building a large scale, green and independent energy company with focus only focus on renewable electricity production. Alecta complements the current owners and add to ensure our continued growth journey”, says Peter Zachrisson, CEO Stena Renewable.
Newsec Infra have acted as financial adviser and Mannheimer Swartling as legal adviser for Stena Adactum and AMF in the transaction.
Altor and Stena Adactum, through GB HoldCo AB, after completion of its cash public takeover bid to the shareholders in Gunnebo AB holds around 96 percent of the total number of shares and votes in Gunnebo per 3rd December 2020 when the share was delisted from the Stockholm stock exchange.
Stena Adactum AB has acquired 650 000 shares in Svedbergs i Dalstorp AB equivalent of 3,1% of the total number of shares and thereby Stena Adactum Group’s total holding now amounts to approximately 29%.
The transaction was completed on 8th December 2020.
This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled "Important information" at the end of this announcement and in the offer document which will be published shortly before the beginning of the acceptance period for the Offer. Shareholders in the United States should also refer to the section titled "Special notice to shareholders in the United States" at the end of this announcement.
Altor and Stena Adactum, through GB HoldCo announced a recommended public offer to the shareholders of Gunnebo. The shares in Gunnebo are listed on Nasdaq Stockholm, Mid Cap.
For more information about the offer, please visit https://www.enduring-value.com/en/disclaimer/
In April 2019 Stena Adactum AB acquired the holding in Beijer Electronics Group from Stena Sessan AB for a total amount of 450 MSEK.