Setterwalls is assisting Brinova in the public take-over bid of the property company Fosema. The majority shareholders in Fastighets AB Fosema are offered B shares in Brinova for the B shares they own in Fosema. This offer is worth approximately SEK 31.50 per share based on the price paid for the last ten days in Brinova of SEK 76.25. All other Fosema share holders are offered SEK 35 for each B share in Fosema. In addition, Brinova offers all A share owners in Fosema SEK 35 per A share in Fosema.
The compensation is approximately worth a total of MSEK 109, if completed in full. The acceptance period is estimated to be set between December 22, 2009 and January 15, 2010.
The offer is conditional upon that Fosema completes the sale of certain subsidiaries. Setterwalls serves as legal advisors to Brinova and to Swedbank’s Corporate Finance financial advisors.
Setterwalls team was led by Jonas Frii and Li Grove Nielsen.