Triton, through Trisall AB, today announced a public cash offer to the shareholders in HiQ International AB (“HiQ”) to acquire all outstanding shares in HiQ at a price of SEK 70 per share. The Offer Price values HiQ, based on all 55.8 million outstanding shares in HiQ, to SEK 3.9 billion.
Triton, and closely related parties, currently do not own shares in HiQ.
Summary of the Offer:
- The Offer represents a premium of 33 per cent compared to the volume-weighted average trading price of SEK 52.82 during the last 30 trading days ended 25 August 2020 (the last day of trading prior to this announcement).
- The Offer is, among other, conditional upon the Offer being accepted to such extent that Triton becomes the owner of shares representing at least 70 per cent of the total number of outstanding shares in HiQ.
- An offer document regarding the Offer is expected to be made public on or about 9 September 2020. The acceptance period for the Offer is expected to commence on or about 10 September 2020 and expire on or about 1 October 2020.
Triton is an investment firm which seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Carnegie is acting as sole financial adviser to Triton in connection with the Offer.