Brief: Momentum Group Announces A Recommended Public Offer To The Shareholders Of Swedol

Alligo AB

11/11/2019 07:09

Nov 11 (Reuters) - Momentum Group Ab  MMGRb.ST :
    * REG-MOMENTUM GROUP ANNOUNCES A RECOMMENDED PUBLIC OFFER TO
THE
SHAREHOLDERS OF SWEDOL
    * ANNOUNCES ITS INTENTION TO ACQUIRE SWEDOL AB THROUGH A
PUBLIC
OFFER TO SHAREHOLDERS OF SWEDOL
    * CASH CONSIDERATION OF SEK 46.50 IS OFFERED FOR EACH CLASS
A AND
B SHARE IN SWEDOL, OR ALTERNATIVELY A SHARE CONSIDERATION OF
0.40 NEW CLASS B SHARE IN MOMENTUM GROUP FOR EACH CLASS A AND B
SHARE IN SWEDOL
    * MOMENTUM GROUP OFFERS SHAREHOLDERS IN SWEDOL TO CHOOSE
BETWEEN A
CASH CONSIDERATION AND A SHARE CONSIDERATION
    * FOLLOWING TRANSACTION, SWEDOL'S OPERATIONS WILL BE PART OF
MOMENTUM GROUP'S BUSINESS AREA TOOLS & CONSUMABLES
    * SWEDOL'S CURRENT CEO CLEIN JOHANSSON ULLENVIK WILL IN
CONJUNCTION WITH ACQUISITION BECOME HEAD OF BUSINESS AREA
    * ACCEPTANCE PERIOD IS ESTIMATED TO START ON 17 DECEMBER
2019 AND
END ON OR ABOUT 25 FEBRUARY 2020
    * INDEPENDENT BID COMMITTEE IN SWEDOL CONSIDERS OFFER TO BE
FAIR
AND UNANIMOUSLY RECOMMENDS SWEDOL'S SHAREHOLDERS TO ACCEPT CASH
CONSIDERATION
    * SHARE CONSIDERATION REPRESENTS A PREMIUM OF 25.1% BASED ON
CLOSING PRICES OF SWEDOL'S AND MOMENTUM GROUP'S CLASS B SHARES
ON 8 NOVEMBER 2019
    * OFFER WILL BE FINANCED BY A COMBINATION OF CASH AND NEWLY
ISSUED
CLASS B SHARES IN MOMENTUM GROUP
    * CASH CONSIDERATION REPRESENTS A PREMIUM OF 39.0% COMPARED
TO
CLOSING PRICE FOR CLASS B SHARE IN SWEDOL ON 8 NOVEMBER 2019
    * IF MOMENTUM GROUP COMPLETES OFFER, NORDSTJERNAN'S
SHAREHOLDING
IN MOMENTUM GROUP WILL REPRESENT 43.2-52.7 PERCENT OF SHARES AND
43.7-51.8 PERCENT OF VOTES

Source text for Eikon:  ID:nGNE6Y7DCG 
Further company coverage:  MMGRb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))