By Reuters | Updated: 5 January, 2024
Jan 5 (Reuters) – Byggfakta Group Nordic HoldCo AB (BGNH.ST) said on Friday its internal committee recommended shareholders to accept a buyout bid from a consortium that valued the Swedish software company at around 10.1 billion kronor ($982.07 million), sending its shares to a near one year high.
The consortium, which includes Macquarie Capital, is offering 46 Swedish kronor in cash for each Byggfakta share, a 31% premium to the stock’s last close.
Shares of Byggfakta, Sweden’s major software and information company within the construction industry, jumped about 30% to 45.80 kronor, hitting its highest since early January, 2023.
The stock is, however, still trading considerably below the October 2021 IPO price of 75 kronor per share.
“It is pleasing that we have unanimous support from the independent bid committee and from the former managing director and current board member of Byggfakta, Stefan Lindqvist, who has committed to accepting the offer,” said Henrik Lif of consortium member Stirling Square Capital Partners.
Byggfakta said that the consortium does not intend to make any material changes to the company’s employees, management team or its operations.
Consortium members private equity firms TA Associates and Stirling Square collectively own 67.4% stake in Byggfakta.
($1 = 10.2844 Swedish crowns)
© Thomson Reuters 2024
