Brief: 24Sevenoffice Enters Into MoU Regarding A Potential Sale Of Parts Of Assets, Subsidiaries

Done.ai AB

11/10/2024 07:38

Oct 11 (Reuters) - 24SevenOffice Group AB  247.ST :
    * ENTERS INTO A MEMORANDUM OF UNDERSTANDING REGARDING A
POTENTIAL
SALE OF PARTS OF ASSETS AND SUBSIDIARIES
    * ENTERPRISE VALUE OF TARGET APPROXIMATELY SEK 2.4 BILLION
    * DEFINITIVE AGREEMENTS EXPECTED WITHIN 30 DAYS
    * TO RETAIN STRATEGICALLY IMPORTANT BUSINESS UNITS
    * TRANSACTION UNANIMOUSLY SUPPORTED BY 24SEVENOFFICE BOARD
    * IF TRANSACTION IS COMPLETED, 24SEVENOFFICE INTENDS TO
CONTINUE
OPERATING AS A LISTED COMPANY WITH ITS REMAINING OPERATIONS
    * BOARD PROPOSES RETENTION OF SEK 200 MILLION IN CASH AFTER
SETTLING DEBT
    * AGREEMENT INCLUDES PROVISIONS FOR COMPETING OFFERS WITHIN
30
DAYS
    * EXPECTED TOTAL DIVIDEND MINIMUM SEK 20 PER SHARE
    * SHAREHOLDERS REPRESENTING MORE THAN 64% OF VOTES SUPPORT
TRANSACTION

Source text for Eikon:  ID:nWkr2jK6nP 
Further company coverage:  247.ST 

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