AB Traction (OM:TRAC B) made an offer to acquire remaining 67.99% stake of Drillcon AB (OM:DRIL) for SEK 87.9 million on August 1, 2013. AB Traction shares of Drillcon at SEK 2.9 per share. The deal will be financed by cash of AB Traction and no external financing will be used. The acceptance period for the offer is expected to run from August 12, 2013, through September 2, 2013. Settlement is expected to occur on or about September 9, 2013. Post acquisition, if AB Traction becomes the owner of more than 90% of the total shares in Drillcon, Traction may initiate a compulsory acquisition of the remaining shares in Drillcon. In that case, Traction intends to work to have Drillcon shares delisted from stock exchange. The Offer is not subject to any condition to completion. Remium Nordic AB acted as financial advisor to Traction.

AB Traction (OM:TRAC B) cancelled the acquisition of 67.99% stake of Drillcon AB (OM:DRIL) on August 1, 2014.