Sweden's Castellum to make takeover offer for Entra after raising stake
13/02/2025 11:19
Feb 13 (Reuters) - Castellum CAST.ST has increased its
shareholding in Entra ENTRA.OL to more than a third of all its
shares and will make a mandatory offer for the Norwegian real
estate firm, it said on Thursday.
The Swedish real estate group bought further 100 shares in
Entra for 110.40 Norwegian crowns per share, crossing the
threshold for a mandatory offer for the remaining shares, it
said in a statement.
Castellum said that Entra's largest shareholder Fastighets
AB Balder BALDb.ST , which controls nearly 40% of the Norwegian
firm's shares and votes, has said it will not accept Castellum's
offer.
Balder said in a separate statement that it did not intend
to make a counteroffer.
Carlsquare analyst Bertil Nilsson said the market reaction
was likely to be limited as Balder would retain its stake in
Entra despite Castellum's offer.
"However, there is likely to be speculation in Entra's shares
about a long-term takeover of the company by either Castellum or
Balder," Nilsson added.
(Reporting by Elviira Luoma and Anna Chaberska in Gdansk,
editing by Milla Nissi)
((Elviira.luoma@thomsonreuters.com))