On 29 September 2010, Cidron Intressenter AB[1] (“Cidron Intressenter”), a company indirectly wholly owned by Nordic Capital VII Limited[2] (“Nordic Capital Fund VII”), announced a recommended offer (“the Offer”) to the shareholders in Munters AB (publ) (“Munters” or the “Company”), to acquire all the shares in Munters for SEK 73 in cash per share, which has been increased to SEK 77 in cash per share. On 30 September 2010 Cidron Intressenter published an offer document regarding the Offer. 

Cidron Intressenter has today made public a supplement to the offer document in connection with the press release from Cidron Intressenter that was announced on 13 October 2010 regarding an increase of the Offer price to SEK 77 in cash per share in Munters and an extension of the acceptance period of the Offer up to and including 26 October 2010, as well as the press release from Munters’ Board of Directors that was announced on 13 October 2010. 

The supplement will be sent to shareholders in Munters whose holdings were directly registered with Euroclear Sweden AB on 29 September 2010 and will be available on www.cidronintressenter.com and www.nordea.se/placera. 

The supplement should be read in conjunction with the offer document. In accordance with Swedish law, shareholders who have accepted the Offer have the right to withdraw the acceptance within five working days of the announcement of the supplement; in all other respects the right to withdraw an acceptance applies in the same manner as set out in the offer document. For other terms and conditions of the Offer, please refer to the offer document and the supplement to the offer document. 

Shareholders that have already accepted the Offer from Cidron Intressenter prior to the announcement of the supplement do not need to submit a new acceptance form to receive the increased consideration per share. For other terms and conditions regarding acceptance, please refer to the offer document and the supplement to the offer document. 

Shareholders that have already accepted the offer from Alfa Laval AB (publ) (“Alfa Laval”) and who instead wish to accept the Offer from Cidron Intressenter must withdraw their acceptance of the offer from Alfa Laval in accordance with the instructions set forth in the offer document on page 8 prepared by Alfa Laval, which is available on www.seb.se/prospekt. In accordance with the press release announced by Alfa Laval on 1 October 2010, Alfa Laval’s acceptance period ends on 15 October 2010. In case that holdings in Munters are registered in the name of a nominee, any withdrawal of acceptance of the offer from Alfa Laval and acceptance of the Offer from Cidron Intressenter must be made in accordance with instructions from the nominee. 

Bank of America Merrill Lynch and Nordea Corporate Finance are acting as financial advisors and White & Case and Ashurst as legal advisors to Nordic Capital Fund VII and Cidron Intressenter in connection with the Offer. 

For additional information about the Offer, please visit www.cidronintressenter.com or contact Nordea on +46 8 21 27 67. 

All media enquiries to:

Mikael Widell, Communications Manager
+46 8 440 50 70
+46 703 11 99 60 

The information in this press release was submitted for publication on 14 October 2010 at
15.30 (CET).

 

[1] A newly formed company indirectly wholly owned by Nordic Capital Fund VII, under change of name from Goldcup 5924 AB to Cidron Intressenter AB.
[2] Nordic Capital VII Limited, a limited liability company established under the laws of Jersey, with registered office in St Helier, Jersey, acting, in relation to the Offer, in its capacity as General Partner for and on behalf of Nordic Capital VII Alpha, L.P. and Nordic Capital VII Beta, L.P.

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