Ograi’s offer to the shareholders of Opus has been declared unconditional and Opus will convene an extraordinary general meeting
On December 2, 2019, Ograi BidCo AB (“Ograi”) announced a public offer to the shareholders of Opus Group AB (“Opus”) to sell all shares in Opus to Ograi at a price of SEK 7.75 in cash per Opus share. On December 20, 2019, Ograi announced an increase of the Offer to SEK 8.50 in cash per Opus share (the “Offer”). On January 16, 2020, Ograi announced that it now controls shares in Opus corresponding to approximately 79.4 per cent of the shares and votes in Opus and declared the Offer unconditional. The acceptance period has been extended to February 13, 2020.
The Board of Directors of Opus has received a request from Ograi that the Board convene an extraordinary general meeting, to be held on February 20, 2020, in order to consider an election of new members of the Board. Such notice convening an extraordinary general meeting will be issued within short.
Gothenburg, January 16, 2020
Opus Group AB (publ)
For additional information, please contact:
Helene Carlson, Director of Corporate Communications & Investor Relations
Tel: +46 765 25 84 93
E-mail: helene.carlson@opus.se
Katarina Bonde, Chairman of the Board
E-mail: katarina.bonde@kubicorp.com
About Opus
Opus is a technology-driven growth company in the vehicle inspection and intelligent vehicle support markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and intelligent vehicle support. Opus had approximately SEK 2.5 billion in revenues in 2018 with solid operating profit and cash flow. Opus’ goal is to reach an annual revenue growth of 5-10 percent, through organic and acquisitive growth based on 3-year CAGR, and an EBITA margin of 15 percent. The majority of the growth is estimated to come from the international expansion of the vehicle inspection business, with a primary focus on the Latin American and Asian markets, and the expansion of the intelligent vehicle support business. With approximately 2,600 employees, Opus is headquartered in Gothenburg, Sweden. Opus has 34 regional offices, 24 of which are in the United States and the others in Sweden, Argentina, Chile, Mexico, Peru, Pakistan, United Kingdom, Spain and Australia. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The shares of Opus Group are listed on Nasdaq Stockholm.