Comment in relation to Blackstone’s announcement
Comment in relation to Blackstone’s announcement that the conditions precedent to acquire 40 per cent of the voting rights and 32 per cent of the share capital in D. Carnegie & Co AB (publ) have been fulfilled
D. Carnegie & Co AB (publ) (”D. Carnegie & Co” or the “Company”) notes that today, on [25] August 2016, Blackstone Real Estate Partners Europe IV and Blackstone Real Estate Partners VIII (jointly “Blackstone”) have announced through a press release that the conditions set out in the acquisition agreements entered into on 15 July 2016, as further described in Blackstone’s and the Company’s press releases on that day, have been fulfilled. Blackstone further announces that the full completion of the transactions, which might occur in steps, is expected to occur by early November and that 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.
The independent committee that the board of directors has appointed within itself to represent the Company in connection with a potential mandatory tender offer and make a statement regarding such offer notes Blackstone’s announcement and await such further information from Blackstone as is promised.
Stockholm on [25] August 2016
D. Carnegie & Co AB (publ)
The independent committee
For further information, please contact
Mats Höglund, board member and chairman of the committee, phone +46 705 93 24 63
This information is information that D. Carnegie & Co AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at [8.30 am] CET on [25] August 2016.
About D. Carnegie & Co
D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the Bosystem renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to MSEK 1,360 on 1 December 2015. The total rental value amounted to MSEK 1,292 on 30 September 2015 annually. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.
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