Bure Equity AB (publ) (OM:BURE) made an offer to acquire remaining 88.8% stake in Allgon AB (publ) (OM:ALLG B) from a group of shareholders for approximately SEK 670 million on December 22, 2020. Bure Equity will acquire all remaining B shares in Allgon at SEK 13.5 per share in cash. Bure Equity already holds 6.3 million shares of Allgon.

The offer is fully financed by available cash on hand at Bure Equity AB. If Bure becomes the owner of more than 90% of the shares in Allgon, Bure intends to initiate compulsory redemption proceedings in respect of the remaining shares in Allgon under the Swedish Companies Act. The offer is conditional on Bure becoming the owner of shares representing more than 50% of the total number of shares in Allgon.

With the lower acceptance level condition, Bure opens to the possibility that Allgon remains listed on First North with Bure as the main shareholder. The offer is not subject to any financing condition. As of January 8, 2021, the Board of Allgon unanimously recommend the shareholder.

The acceptance period for the offer is expected to commence on or about January 11, 2021 and expire on or about February 1, 2021. As on January 11, 2021, the offer is valid till February 2, 2021. The settlement date of the transaction is February 10, 2021.

As of January 4, 2021, Latour Industries International AB withdrew the competing offer to the shareholders of Allgon AB. Mannheimer Swartling Advokatbyrå AB acted as legal advisor and Castlegreen Partners LLP acted as financial advisor for Bure Equity AB. Erneholm Haskel AB acted as financial advisor and Advokatfirman Vinge KB acted as legal advisor to Allgon.