Rieber & Søn has launched its mandatory cash offer for the remaining shares in Norwegian Scana after Finanstilsynet approved the offer document.
The offer is worth NOK 1.40 per share. The latest price paid is NOK 1.43.
Rieber & Søn currently owns approximately 158.6 million shares in Scana, corresponding to 34.3 percent of the capital and votes. The mandatory offer was triggered on 2 October when the ownership stake exceeded one-third.
The acceptance period runs from 30 October to 27 November, with the possibility of an extension to 11 December subject to regulatory approval.
The offer is unconditional and settlement is guaranteed by DNB Bank.
Scana’s board of directors is to publish its statement no later than one week before the end of the acceptance period.
