A consortium made up of AB Tuna Holding, The Hans And Barbara Bergstrom Foundation, Paradeigma Partners AB, Paradigm Capital Value LP, Paradigm Capital SICAV, funds managed by Paradigm Capital AG and others made an offer to acquire the remaining 26.8% stake in Internationella Engelska Skolan i Sverige Holdings II AB (publ) (OM:ENG) for approximately SEK 880 million on September 24, 2020. Under the terms of the transaction, bidder will pay SEK 77.04 in cash for each share of Internationella Engelska Skolan i Sverige Holdings II AB (publ). As on November 2, 2020, the offer price is increased from SEK 77.04 per share to SEK 82 per share. The total value of the offer based on the increased offer price and all issued and outstanding common shares in IES, amounts to approximately SEK 3.3 billion. The consortium exercised some call options and as a result, owned 73.19% stake in IES. As a result, the consortium had to make the mandatory offer. As part of the transaction, bidder has received irrevocable commitments from certain shareholders in Internationella Engelska Skolan i Sverige Holdings II AB (publ), which together with the options and common shares controlled by bidders amount to 74.84% of the shares and votes in Internationella Engelska Skolan i Sverige Holdings II AB (publ). The transaction is fully financed through a commitment from Paradigm Capital SICAV. If the Bidder acquires shares representing more than 90% of the total number of shares in IES, the Bidder intends to initiate compulsory redemption of the remaining shares. As of November 9, 2020, Board of Directors of Internationella Engelska Skolan i Sverige Holdings unanimously recommended the shareholders to accept the offer. The offer will commence on October 2, 2020 and expire on October 30, 2020. As of October 2, 2020, the acceptance period for the offer shall be from October 5, 2020 to November 2, 2020. As of November 2, 2020, the acceptance period in the offer is extended up to November 17, 2020. As of November 6, 2020, the acceptance period in the offer will run up to November 25, 2020. Settlement of shares tendered in the Offer during the current acceptance period is expected to commence on or around November 24, 2020. Settlement of shares tendered in the Offer during the additional extended acceptance period is expected to commence on or around December 2, 2020. Skandinaviska Enskilda Banken AB (publ.) (OM:SEB A) acted as financial advisor while Jesper Schönbeck, Linnéa Sellström and Jesper Schönbeck, Linnéa Sellström of William Kåge Advokatfirman Vinge KB acted as legal advisor to Internationella Engelska Skolan i Sverige Holdings II AB (publ). Carnegie Investment Bank AB (publ) is lead financial advisor, Fredrik L Gustafsson, Daniel Lilliehöök, Henrik von Blixen, Max Schulz, Jens Nystrand, Bjørn Morten Andersen, Oskar Franzén and Niklas Ekman of Nordea Bank Abp, filial i Sverige is financial advisor and Ola Åhman, Mattias Friberg, Christoffer Saidac, Fredrik Olsson, Carolina Wahlby and Peter Forsberg of Hannes Snellman Advokatbyrå AB is legal advisor to the Bidder in connection with the Offer. The independent bid committee of Internationella Engelska Skolan i Sverige Holdings II AB (publ) will also appoint an advisor to provide a fairness opinion regarding the offer. Handelsbanken Capital Markets acted as fairness opinion provider to board of Internationella Engelska Skolan. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for Paradeigma.