Yesterday EQT, through Fund VIII Swe Bidco AB, under name change to Karo Intressenter AB, has announced a public cash offer to the shareholders in Karo Pharma AB regarding acquisition of all shares in the company.
Venture capital company EQT’s offer for Karo Pharma is 36.9 SEK per share, they state in a press release. The total value is around 5.973 million SEK and the Board recommends unanimously the owners to accept the offer. Chairman of the Board Anders Lönner and member of the Board Per-Anders Johansson have already announced that they will accept the offer, reports Dagens Industri. The two of them together own more than 13.6 percent of the shares and the votes in the company.
“A suitable owner”
According to Lönner there are good possibilites for Karo Pharma to expand in Europe but the acquisition is needed. “EQT is a suitable owner when it comes to competence and financial strength. This combination will be succesful and interesting for our co-workers in Karo Pharma,” he states in the press release.
Under the terms and conditions, the offer will be completed if it is accepted by owners representing 90 percent of the shares. The acceptance period for the offer will be from November 13 to December 10. Karo Pharma therefore brings forward the publication of its interim report January-September 2018 due to the public offer.
Photo of Anders Lönner: Bengt Almi
