Purmo: Grand Bidco achieves the majority required to complete takeover
Translation: Original comment published in Finnish on 8/5/2024 at 7:35 am EEST.
Purmo announced on Friday that the Grand Bidco Consortium had reached the minimum acceptance condition required for the completion of the tender offer, meaning that all conditions to the takeover bid have been met. We commented on the preliminary results of the tender offer here.
Minority interests will be acquired through redemption proceedings
The takeover offer from the Grand Bidco consortium was accepted by 94.5% of shareholders. As the minimum acceptance condition (90%) and all other conditions for the implementation of the tender offer have been met, the Bidder will implement the offer in accordance with its terms and conditions. To the shareholders who have accepted the offer, the offeror will pay the agreed offer consideration (C shares EUR 11.06) on or about August 16 in accordance with the payment procedures described in the terms and conditions of the offer. Grand Bidco is offering shareholders who have not yet accepted the offer the opportunity to do so between August 5 and 19. Thereafter, when the consortium owns more than 90% of Purmo, it will initiate compulsory redemption proceedings under the Companies Act to acquire the remaining shares.
Purmo Group
Purmo Group är verksamt inom komfortlösningar för inomhusklimat i Europa. Bolaget tillhandahåller värme- och kyllösningar till bostadshus och lokaler, inklusive radiatorer, handduksvärmare, golvvärme, konvektorer, ventiler och kontroller. Verksamheten är indelad i ett flertal affärsområden och lösningarna används exempelvis inom industrin samt bland fastigheter. Kunderna återfinns på global nivå med störst koncentration inom Europa. Produkterna riktar sig till företagskunder och privatpersoner.
Read more on company pageKey Estimate Figures17/07
2023 | 24e | 25e | |
---|---|---|---|
Omsättning | 743,2 | 715,9 | 741,6 |
tillväxt-% | −17,80 % | −3,67 % | 3,59 % |
EBIT (adj.) | 55,4 | 65,1 | 73,8 |
EBIT-% | 7,45 % | 9,09 % | 9,95 % |
EPS (adj.) | 0,68 | 0,73 | 0,98 |
Utdelning | 0,35 | 0,35 | 0,37 |
Direktavkastning | 5,65 % | 3,11 % | 3,28 % |
P/E (just.) | 9,06 | 15,39 | 11,42 |
EV/EBITDA | 11,56 | 9,10 | 7,58 |