12 June 2019
Gernandt & Danielsson advises on the recommended public offer of all shares of Ramirent Plc
Gernandt & Danielsson has advised the board of directors in connection with Loxam S.A.S.’s recommended public cash tender offer for all shares of Ramirent Plc. Ramirent's shareholders will be offered a cash consideration of EUR 9.00 for each share, valuing Ramirent's equity at approximately EUR 970 million and Nordstjernan’s shareholding in Ramirent at EUR 197 million.
The offer price represents a premium of approximately 65.4 percent compared to the closing price of Ramirent shares on June 7, 2019 and 56 percent compared to the volume-weighted average trading price of Ramirent shares during the 3-month period preceding the date of the offer.
The major shareholders of Ramirent, Nordstjernan and Oy Julius Tallberg AB, as well as the President and CEO of Ramirent and the CFO, have irrevocably undertaken to accept the offer subject to certain customary conditions. The irrevocable undertakings represent jointly approximately 31.9 percent of the outstanding shares and votes in Ramirent.
Ramirent is one of Europe’s largest equipment rental companies, with leading market positions and some 300 customer centers in the Nordic region as well as Central and Eastern Europe. Nordstjernan is the company’s largest shareholder with approximately 20 percent of both the capital and voting rights. Ramirent is listed on Nasdaq Helsinki.
Gernandt & Danielsson's team consisted of Partner Mikael Borg and Senior Associate Linnéa Sellström.