Public Property Invest, PPI, is making a public takeover offer to the shareholders of Preservium Property. The offer values each Preservium share at SEK 69 and all shares at approximately SEK 320 million, based on PPI’s net asset value as of June 30.
The base consideration consists of 70 percent shares, with 2.7 PPI shares offered per Preservium share, and 30 percent cash of SEK 69 per share. Shareholders are also being offered a mix-and-match option.
The offer represents a premium of approximately 44.4 percent to Preservium’s closing price on September 28, calculated based on PPI’s net asset value, or 8.6 percent calculated based on PPI’s share price.
The acceptance period is expected to run from November 6 to December 7.
SBB, which owns approximately 35 percent of Preservium, has expressed a positive view of the offer but has not undertaken to accept it.
