ASSA ABLOY AB (publ) (OM:ASSA B) made an offer to acquire additional 5.37% stake in agta record ag (ENXTPA:AGTA) for €50.5 million on March 6, 2019. The offer per share is €70. As on August 20, 2020, the offer price was increased to €70.58, notably including an upward interest rate adjustment. In a related deal, ASSA ABLOY AB (publ) entered into an agreement to acquire additional 53.75% stake in agta record ag on March 6, 2019. Pre deal, ASSA ABLOY AB (publ) held 39% stake and post completion of the agreement for 53.75%, it will hold approximately 93% stake. When such acquisition is completed, ASSA ABLOY AB will launch, within 10 trading days as from completion date of the deal, a public tender offer for the remaining outstanding shares in agta record ag, subject to AMF rules being applicable. Post completion of the deals, agta record ag will be kept as a separate business area, retaining its record brand. All of the employees of agta record ag will join ASSA ABLOY AB (publ). agta record ag will continue to be headquartered in Fehraltorf, Switzerland.

The deal is subject to the fairness opinion of the independent appraiser to be appointed by ASSA ABLOY AB (publ) and to the AMF's clearance decision (French Financial Markets Authority – AMF – Autorité des Marchés Financiers). Based on external financial information for 2018 for both agta record ag and ASSA ABLOY AB (publ), the acquisition of agta record ag adds around 5% to ASSA ABLOY AB's consolidated revenue. As on August 20, 2020, ASSA ABLOY completed the agreement acquisition and increased its stake to 92.75%. The French Financial Market Authority approved the offer on September 15, 2020. The Offer will be followed by the delisting from the Euronext Paris stock exchange of the agta record shares shortly following the publication of the results of the Offer and No squeeze-out procedure, or equivalent procedure, exists under French securities laws or Swiss securities laws applicable to the agta record. The Board of Directors of agta record, on the basis of the report prepared by the independent expert4, has unanimously decided that the Offer was in the interest of agta record, its employees and shareholders and recommended to the shareholders to tender their agta record shares to the Offer. The shareholders of agta record will be free to retain their agta record shares after the close of the Offer and completion of the Delisting. ASSA ABLOY has committed to acquire for a six-month period as of the close of the Offer, i.e., until March 30, 2021 for Agta record shares held by minority shareholders who have not tendered their agta record shares to the Offer. The offer will commence from September 17, 2020 to September 30, 2020.The operating margin effect for ASSA ABLOY AB is initially expected to be slightly dilutive. The acquisition will be accretive to earnings per share from start. BNP Paribas acted as financial advisor to ASSA ABLOY AB.

ASSA ABLOY AB (publ) (OM:ASSA B) completed the acquisition of 3.51% stake in agta record ag (ENXTPA:AGTA) for €33 million on September 30, 2020. As a result of the offer, 0.47 million agta record shares have been tendered and accepted and ASSA holds 98.04% of the share capital. ASSA ABLOY has committed to acquire for a 6- month period after closing of the Offer, i.e., until 30 March 2021 (included), agta Record shares held by minority shareholders who have not tendered their agta record shares during the Offer period at the Offer price, i.e., €70.58 per agta record share. This 6-month period, commencing at the close of the Offer, will not be extended.