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Sat, Jan 23, 2021 17:57
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Management Side
EUR 2.1 billion takeover bid for all Ahlstrom-Munksjö shares nearing completion
FINLAND (From news reports) -- Fiber materials Ahlstrom-Munksjö's € 2.1 billion takeover is nearing completion.

Spa Holdings announced that it has received all regulatory approvals for a voluntary public cash tender offer for Ahlstrom-Munksjö shares.

US investment company Bain Capital announced as early as last September together with Ahlström Capital, Viknum and Belgrano Inversiones, a EUR 2.1 billion takeover bid for all Ahlstrom-Munksjö shares.

Ahlstrom-Munksjö was founded in 2017, when the Finnish Ahlstrom and its Swedish competitor Munksjö merged. The company's turnover last year was about 2.9 billion euros. The company has about 8,000 employees.

Ahlstrom-Munksjö has also been in public this year because it manufactures materials for face masks.

Bain Capital's holding in Ahlstrom-Munksjö would be 55% and it would be delisted. Today, members of the Ahlström family and other individual owners own about 65 percent of the company. Ahlström Invest would have a 36 percent share.

Spa Holdings is a joint consortium of all bidders.

Trade delayed, due to regulatory approvals stretched over the turn of the year during the initial bidding period. The tender offer was thus extended until 14 January.

The offer per share is EUR 18.10.

According to the press release, the execution of the tender offer is still conditional on the fulfillment of certain other conditions.

The buyer will announce the preliminary result of the offer on approximately 15 January and the final result on approximately 20 January.

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