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Industrivärden divests its shareholding in SSAB for SEK 2,019 million

Nachrichtenquelle: globenewswire
10.05.2021, 23:00  |  153   |   |   

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.


Industrivärden has today divested its entire holding of 44,334,933 class A shares in SSAB at a price of SEK 45.53 per class A share, corresponding to a total proceeds of SEK 2,019 million. The divestment has been made by means of an accelerated book building process addressed to institutional investors. The divested shares represent 4.3 percent of the capital and 11.8 percent of the votes in SSAB.

Commenting on the transaction, Industrivärden’s CEO Helena Stjernholm says: “Industrivärden has been a long-term and committed owner with a significant shareholding in SSAB since 1994. Within the framework of our ownership role, we have actively participated in several important development steps, such as the focusing on higher margin product areas, an increased sustainability focus and the acquisitions of the American IPSCO and the Finnish Rautaruukki. SSAB is today a leading player in special steels with a leading position in the development of fossil-free steel. In April 2018, we divested just over half of our investment in SSAB and now the remaining holding has been sold. In this way, we release capital for alternative investments.”

Morgan Stanley has acted as Sole bookrunner and Carnegie as Co-bookrunner in connection with the transaction.


Stockholm, 10 May 2021

AB INDUSTRIVÄRDEN (publ)


For further information, please contact:

Helena Stjernholm, Chief Executive Officer, tel. +46-8-666 64 00


The information was submitted for publication, through the agency of the Head of Corporate Communications and Sustainability, Sverker Sivall, on 10 May 2021 at 11:00 p.m. CET.


Important Notice:

This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction in which such an offer or solicitation is unlawful, including without limitation, the United States, Australia, Canada, Japan or South Africa. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions. No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required.

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Disclaimer

Industrivärden divests its shareholding in SSAB for SEK 2,019 million NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE …

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