APMH Invest Successfully Completes Acquisition of Svitzer Group Shares
In an exciting development for investors and market watchers, APMH Invest A/S, a key subsidiary of A.P. Møller Holding A/S, has successfully concluded its all-cash voluntary recommended purchase offer for the shares of Svitzer Group A/S. This move marks a significant milestone in the company's strategy, aiming to consolidate its presence in the marine services sector.
Details of the Purchase Offer
The acquisition encompassed all issued shares of Svitzer, with the exception of those already held by APMH Invest and any shares retained by Svitzer itself. Following the offer launch on the specified dates, the company has now received acceptances that result in APMH Invest securing roughly 93.4% of Svitzer’s total voting rights and share capital. This overwhelming acceptance underscores the confidence investors have placed in APMH Invest and its strategic vision.
Settlement Procedure
As part of the transaction process, APMH has indicated that settlement will occur in cash via shareholders’ own banks or custodial accounts. The anticipated trading day for the settlement is set for today, with a pay date confirmed shortly thereafter. However, shareholders without a Danish bank account may face delays in receiving their payments.
Compulsory Acquisition Plans
With APMH now holding more than 90% of the shares, the company is poised to initiate a compulsory acquisition of any remaining shares held by minority shareholders, in accordance with Danish laws. As part of this compulsory acquisition, each remaining share will be priced at DKK 277, aligning with the purchase offer’s conditions and reflecting the recent dividend payments made by Svitzer.
Impact on Svitzer's Market Presence
APMH Invest is also taking steps to facilitate the removal of Svitzer shares from trading on Nasdaq Copenhagen A/S prior to the compulsory acquisition. The last trading day is projected to occur shortly before official delisting, consolidating APMH's control over the company's operational future.
About Svitzer
Svitzer is recognized as a leader in global marine services, providing essential assistance to vessels navigating ports and terminals. Operating with a fleet of around 450 vessels, Svitzer plays a critical role in the infrastructure of numerous ports worldwide, catering to around 2,000 customers across 140 ports in 40 countries. The company’s long-standing history dates back to 1833, and its extensive service portfolio continues to enhance maritime operations across the globe.
Contact Information
For any inquiries regarding this acquisition or its implications, interested parties can reach out to Michael Nass Nielsen, Head of Investor Relations at APMH Invest. He can be contacted via phone at +45 2494 1654 or through his email: ir@svitzer.com.
Frequently Asked Questions
What was the completion status of APMH Invest's acquisition?
APMH Invest has successfully completed its cash purchase offer for Svitzer Group, acquiring approximately 93.4% of the shares.
How will the settlement process work for shareholders?
Settlement will be processed in cash via the shareholders’ banks, with payments expected shortly after the trading day.
What is the compulsory acquisition rate for minority shareholders?
The price for remaining shares in the compulsory acquisition is set at DKK 277 per share.
When will the Svitzer shares be delisted?
The expected final trading day for Svitzer shares is just before the compulsory acquisition.
Who can I contact for more information regarding the acquisition?
Michael Nass Nielsen, Head of Investor Relations, is available for further queries at +45 2494 1654 or via email at ir@svitzer.com.
