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UPDATE 1-Schorling & Partners to delist Melker Schorling, makes 569 SEK/share offer
November 14, 2017 / 8:05 AM / 5 days ago

UPDATE 1-Schorling & Partners to delist Melker Schorling, makes 569 SEK/share offer

(Adds detail, background)

Nov 14 (Reuters) - Schorling & Partners, which has around 92.6 percent of shares and votes in Melker Schorling, said on Tuesday it had decided to delist the holding company, and made a public cash offer to the remaining shareholders of 569 crowns ($67.95) per share.

* Says ‍decision is a consequence of an altered situation in MSAB since Melker Schorling left his operational position in company

* Says total offer price amounts to approximately SEK 5,005 mln, offer represents a value of MSAB of approximately SEK 67,767 mln

* Says offer price represents premium of approximately 3.9 percent compared to the closing price of SEK 547.5 for the MSAB share on Nasdaq Stockholm on 13 November

* Says acceptance period for the offer is expected to run from and including 16 November 2017 up to and including 14 December 2017

* Schorling & Partners is jointly owned by the holding company of the Schorling family, Stefan Persson, UIE Malta Holding Ltd. and Mikael Ekdahl AB​

* Melker Schorling, one of Sweden’s most prominent investors, said last year he would leave his board roles in 2017, including the position of chairman at measurement technology firm Hexagon , due to health issues​ Source text for Eikon: Further company coverage: ($1 = 8.3735 Swedish crowns) (Reporting by Helena Soderpalm; Editing by Simon Johnson)

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