Aros Bostadsutveckling AB (publ) (OM:AROS) made an offer to acquire Besqab AB (publ) (OM:BESQ) from a group of shareholders for SEK 1.8 billion on January 31, 2024. The consideration for the shareholders in Besqab are offered 1.0417 newly issued common shares and 0.0718 newly issued series B preference shares in Aros Bostad for each existing share in Besqab. The total value of the Offer, based on all outstanding shares in Besqab, amounts to approximately SEK 1.86 billion, equivalent to approximately SEK 40.2 per share in Besqab. If Besqab were to pay dividends or carry out another value transfer before the settlement of the Offer the consideration in the Offer would be reduced accordingly. Assuming full acceptance of the Offer, Aros Bostad will issue approximately 48.1 million new common shares and approximately 3.2 million new series B preference shares. At full acceptance of the Offer, Aros Bostad?s shareholders will hold approximately 53% of the votes and Besqab?s shareholders will hold approximately 47% of the total votes in the New Company and the New Company is proposed to be named Besqab AB (publ). Aros Bostad has obtained irrevocable undertakings and declarations of intent to accept the Offer from shareholders in Besqab representing approximately 73% of the votes and capital in Besqab. Family Douglas (company incl.), Olle Engkvists stiftelse, Sven Jemsten with family (company incl.), Carl Wale with family, Paradeigma Partners AB, Kristian Wale with family (company incl.), Lars Öberg with family (company incl.), Paradigm Capital Value and AB Tuna Holding, representing approximately 36% of the votes and capital in Besqab, have entered irrevocable undertakings to accept the Offer. Additionally, family Nordström (company incl.), whose holdings together represents approximately 37% of the votes and capital in Besqab. Magnus Andersson will become CEO and Anna Jepson will become CFO of the New Company, and the intention is that the New Company?s senior executive management will consist of members from both Aros Bostad?s and Besqab?s current senior management teams, which secure continuity and an experienced and competent senior executive management. The board of directors of Besqab unanimously recommends the shareholders of Besqab to accept the Offer. The transaction is subject to Offer being accepted to such an extent that Aros Bostad becomes the owner of more than 90% of all outstanding shares in Besqab (at full dilution), if Aros Bostad undertakes to not complete the Offer if it is not accepted to that extent; approval of the shareholders of Aros Bostad at extraordinary general meeting held on February 16, 2024; Besqab does not resolve to issue shares or other securities in Besqab; any and all necessary regulatory authorizations, approvals, decisions and other actions required from authorities with respect to the Offer and for the completion of the acquisition obtained on terms acceptable to Aros Bostad; and the Offer is not rendered wholly or partly made impossible or significantly impeded as a result of any legislation or other regulation, court decision or order, governmental decision or any similar circumstance which is actual or reasonably foreseeable and which Aros Bostad could not have foreseen at the time of the announcement of the Offer. The acceptance period for the Offer is expected to commence on February 20, 2024 and conclude on March 12, 2024. As of March 15, 2024, The initial acceptance period expired on March 12, 2024. As of this date, the Offer had been accepted by shareholders in Besqab representing a total of 44,712,280 shares, corresponding to approximately 96.6 percent of the total number of shares and votes. Aros Bostad announces that all conditions for completion of the Offer have been fulfilled and has consequently resolved to complete the Offer. To enable the remaining shareholders in Besqab to accept the Offer, Aros Bostad has also resolved to extend the acceptance period for the Offer until April 5, 2024.

Besqab's board of directors obtained fairness opinion from Öhrlings PricewaterhouseCoopers AB for recommendation. Aros Bostad has retained SEB Corporate Finance as financial advisor and Stefan Balazs, Joakim Falkner, Ylva Hult Palmryd, Carl M. Svernlöv, Linnea Back, and Xandra Ståhlberg of Baker McKenzie as legal advisor in connection with the Offer. Magnus Björkander, Maria Arnoldsson, Dennis Luttropp Hansson, Ulrica Salomon and Lisa Ericsson of Cirio Advokatbyrå Ab acted as legal advisor and Lenner & Partners Corporate Finance AB acted as financial advisor to Besqab AB.