EQT AB has announced a recommended offer to acquire renewables developer OX2 AB.

The independent bid committee of the board of directors of OX2 AB unanimously recommends shareholders to accept the public offer from EQT Infrastructure VI.

Summary of the Offer

Otello BidCo offers SEK 60 in cash for each share in the Company. Accordingly, the Offer values all shares in the Company at SEK 16,351 million. The offered price per share represents a premium of:

• approximately 43.4 per cent compared to the closing price of SEK 41.8 of OX2’s shares on Nasdaq Stockholm on 10 May 2024, which was the last trading day prior to the announcement of the Offer;
• approximately 45.8 per cent compared to the volume-weighted average trading price of SEK 41.1 of OX2’s shares on Nasdaq Stockholm during the last 30 trading days prior to the announcement of the Offer; and
• approximately 29.2 per cent compared to the volume-weighted average trading price of SEK 46.4 of OX2’s shares on Nasdaq Stockholm during the last 90 trading days prior to the announcement of the Offer.

The Company’s founder and largest shareholder Peas Industries, controlling 45.6 per cent of the shares and votes in OX2, has entered into an undertaking to accept the Offer, irrespective of whether a higher competing offer is made.

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