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Nordic Update

Klövern makes 1 billion SEK bid for Agora

Publicerad: 5 Oktober 2018, 11:24

Rutger Arnhult, CEO of Klövern. Photo: Agora.

Klövern has made an offer to buy all shares in Swedish retail property company A Group of Retail Assets (Agora). The offer exceeds the market cap of Agora’s conventional shares by 60 per cent and values the company at 1 billion SEK.


Ämnen i artikeln:

AgoraKlövern Fastigheter

Shareholders holding 76,0 per cent of the total capital and 89,8 per cent of the votes in Agora have already, unconditionally, agreed to accept the offer. In addition, other owners have indicated that they are positive to accepting. Furthermore, Klövern holds Agora shares and combined, they thus have a total of 93,7 per cent of the total number of shares and 97,3 per cent of the votes.

Klövern, via its subsidiary Dagon, offers 30 SEK per conventional share and 275 SEK per preferred share in Agora. This exceeds the market cap of the conventional shares by 60 per cent, compared to the closing price on October 4th, and 6,6 per cent on the preferred share’s closing price. In total, the bid amounts to 936 million SEK and counting in the shares owned by Klövern it values Agora at 1,023 million SEK.

The bid is valid from October 12th to November 9th, and before the period is over, the board of Agora will commission a fairness opinion. In a statement, Agora writes that the fairness opinion may be received already by October 9th.

Oskar von Bahr

Ämnen i artikeln:

AgoraKlövern Fastigheter

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