Amasten Fastighets AB (publ) (OM:AMAST) announced a public offer to acquire remaining 70.4% stake in SSM Holding AB (publ) (OM:SSM) from a group of shareholders for approximately SEK 400 million on October 14, 2020. Under the terms, Amasten will issue 6 new shares for every 5 shares of SSM. Samhällsbyggnadsbolaget i Norden AB (”SBB”) and Gösta Welandson with affiliates, who jointly control 45.4% stake, have irrevocably undertaken to accept the offer.

Additionally, Länsförsäkringar Fondförvaltning, who controls 9.8% stake, have made a positive statement about the offer but has not entered any kind of agreement or undertaking to accept the offer. The Offer is not conditional upon any acceptance level. The completion of the Offer is however conditional upon, among other things, that all permits, approvals, decisions and other measures required for the Offer and the acquisition from authorities or the like, including from competition authorities, have been obtained, in each individual case, on terms acceptable to Amasten.

As of November 18, 2020, The independent board members of SSM Holding unanimously recommended shareholders to accept the offer. Board of Directors in SSM has formed an independent bid committee including Jonas Wikström as chairman of the committee, to evaluate the offer. Offer period will run from November 9, 2020, to December 7, 2020.

Per Thurezon and Johan Klerfelt of Skandinaviska Enskilda Banken AB (publ.) (OM:SEB A) acted as financial advisors, BDO Corporate Finance LLP acted as fairness opinion provider and Advokatfirmaet Schjødt AS acted as legal advisor for independent bid committee of SSM.