Lehman Brothers Real Estate Partners, L.P. and Ratos terminates the offer to the shareholders of Fastighets AB Tornet
On 20 October 2003, Lehman Brothers Real Estate Partners, L.P. and related funds and Ratos announced a recommended cash offer of SEK 190 for each share of Fastighets AB Tornet. The offer was made through LRT Acquisition AB, a Swedish company indirectly owned by Lehman Brothers Real Estate Partners at 60% and Ratos at 40%. The acceptance period expired 15.00 (CET) on Friday, 5 December 2003.
On 11 December 2003 the Joint Bidders decided to complete the offer and waive the 90% acceptance condition. On 22 January 2004 the Joint Bidders announced that the acceptance period was extended to 15.00 (CET) on Friday, 6 February 2004.
In summary shareholders, representing 82.4% of the total number of shares and votes of Tornet, have accepted the offer. In total 21,307,711 number of shares have thereby been tendered. Cash settlement to shareholders who have accepted the offer during the last extention is expected to occur on 12 February 2004.
Stockholm, 11 February 2004
The press release can be downloaded from the following link: