BLACKSTONE: FULFILMENT OF CONDITIONS PRECEDENT TO ACQUIRE 40 PER CENT OF THE VOTING RIGHTS AND 32 PER CENT OF THE SHARE CAPITAL IN D. CARNEGIE & CO
London/Stockholm, August 25, 2016
On July 15, 2016 Blackstone Real Estate Partners Europe IV and Blackstone Real Estate Partners VIII (jointly "Blackstone") announced that Blackstone, through its entity Vega Holdco Sarl ("Vega Holdco"), had entered into agreements with three of D. Carnegie & Co's largest shareholders Kvalitena AB (“Kvalitena”), Svensk Bolig Holding AB (”SBH”), and Frasdale Int. BV (“Frasdale”) to acquire part of or all of their shareholdings, corresponding to 40 per cent of the voting rights and 32 per cent of the share capital in D. Carnegie & Co, at a price of SEK 100.00 per share. In addition, Kvalitena and Frasdale agreed to Blackstone exercising the voting rights of their remaining shares in D. Carnegie & Co, resulting in Blackstone, following completion of the transactions, controlling a total of 53 per cent of the voting rights in D. Carnegie & Co. The completion of the transactions was subject to customary merger clearance and certain other third party approvals.
Blackstone hereby announces that the conditions have been fulfilled and that the full completion of the transactions, which might occur in steps, is expected to occur by early November. The transactions will, when fully completed, result in Blackstone passing the threshold for a mandatory offer obligation. Blackstone will revert with further information regarding a possible mandatory tender offer in connection with the completion of the transactions.
Bank of America Merrill Lynch and Leimdörfer acted as financial advisers and Roschier Advokatbyrå acted as legal adviser to Blackstone on the transactions.
The information was submitted for publication on August 25, 2016 at 08.00 a.m. (CET).
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Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has over $100 billion in investor capital under management. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (which manages nearly 50,000 single-family homes in the United States), LivCor (which manages over 36,000 multi-family units in the United States), Logicor (pan-European logistics), and prime office buildings in the world’s major cities.