A consortium of investment company Ahlström Capital and Bain Capital, Viknum and Belgrano Inversiones has today made a tender offer for all shares in fiber manufacturer Ahlstrom-Munksjö.
At the same time, the completion of the tender offer means the recent delisting of Ahlstrom-Munksjö, which is known for its respiratory mask fibers.
According to Ahlström Capital's press release, Bain Capital would become the majority shareholder in Ahlstrom-Munksjö with the acquisition.
Ahlström Capital would own approximately 36 percent and Viknum nine percent.
Ahlström Capital states in the release that it has estimated that Ahlström-Munskjö can best be developed in private ownership with Bain Capital.
The offered price is EUR 18.10 per share, which is 24 percent more than yesterday's closing price.
As a result of the transaction, Bain Capital would become the majority owner of Ahlstrom-Munksjö with 55% alongside Ahlström Capital.
According to the release, the offer consideration is EUR 18.10 in cash per share.
The offer consideration includes a premium of 24 percent in relation to Ahlstrom-Munksjö's closing price yesterday, which was approximately EUR 14.56.
To date, of Ahlstrom-Munksjö's major shareholders, in addition to Ahlström Capital, Viknum and Belgrano, the offer has been bindingly accepted by the pension insurance companies Varma and Ilmarinen.
The parties that have already accepted the offer hold approximately 35 percent of the company's shares and votes.
The offer period for the tender offer is expected to begin on October 26 and end on January 4.