Market Update

Ahlsell Danmark ApS Acquires Majority Stake in Sanistål A/S

Ahlsell Danmark ApS has successfully completed its public offer for shares in Sanistål A/S. In accordance with the offer document from June 7, 2022, Ahlsell Danmark ApS received valid acceptances from ordinary shareholders of Sanistål A/S, totaling 17.22% of the share capital and voting rights.

Additionally, Ahlsell Danmark ApS acquired 9,000,909 shares, representing approximately 75.49% of the share capital and voting rights in Sanistål, from Danske Bank A/S, Jyske Bank A/S, Nordea Bank Abp, and Nykredit Bank A/S. Through open market purchases, Ahlsell Danmark ApS also acquired 584,708 shares, equal to approximately 4.90% of the share capital and voting rights in Sanistål.

In total, Ahlsell Danmark ApS now owns 11,639,388 shares in Sanistål A/S, accounting for 97.61% of the share capital and voting rights. As such, the company has decided to complete the voluntary offer.

Settlement and compulsory acquisition of the remaining shares are expected to take place on December 29, 2022. Ahlsell Danmark ApS will then initiate a compulsory acquisition of the remaining shares held by minority shareholders of Sanistål A/S, in accordance with the Danish Companies Act and the offer document. As a result of this compulsory acquisition, it is likely that Sanistål A/S will apply for a delisting of its shares from Nasdaq Copenhagen.

In connection with the compulsory acquisition, Ahlsell Danmark ApS has requested that the board of directors of Sanistål A/S call for an extraordinary general meeting on January 13, 2023, at which new members will be elected to the board of directors of Sanistål A/S.

As previously announced, Ahlsell Danmark ApS’s acquisition of control over Sanistål A/S triggered the obligation to launch a mandatory offer for the remaining shares in Sanistål A/S, according to Danish capital markets law and the Danish Takeover Order. However, Ahlsell Danmark ApS has applied for an exemption from this obligation due to the expected compulsory acquisition. The exemption application is currently being processed by the Danish Financial Supervisory Authority.

Thomas Williams

Thomas Williams writes related to the Business and Healthcare Category. He manages to cover anything thrown at him owing to his natural inclination towards Business and health. Thomas is our freelance contributor. Thomas is responsible for covering developments in finance and health categories topics.

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