Cramo evaluates Potential Tender Offer for all the outstanding shares in Cramo
Cramo Plc Inside information 5 November 2019 at 5.00 pm Finnish time (EET)
Cramo evaluates Potential Tender Offer for all the outstanding shares in Cramo
Cramo Plc ("Cramo") announces that it has received indications of interest regarding a potential voluntary cash tender offer for all of the outstanding shares in Cramo (the "Potential Tender Offer"). Cramo is currently evaluating its strategic alternatives.
Cramo is currently in advanced negotiations concerning the Potential Tender Offer. If negotiations concerning the Potential Tender Offer are successful, Cramo expects that a voluntary cash tender offer for all of the outstanding shares in Cramo would be made at an offer price of EUR 13.25 per share. The Potential Tender Offer would be subject to customary conditions, including required authority approvals. In Cramo's understanding, the potential offeror would, upon the announcement of the Potential Tender Offer, have sufficient financial means required by the Potential Tender Offer.
Cramo emphasises that there is no certainty regarding the outcome of the negotiations concerning the Potential Tender Offer or as to the terms on which any Potential Tender Offer might proceed. Cramo will disclose further information as and when appropriate.
CRAMO PLC
Leif Gustafsson
President and CEO
Further information:
Mr Leif Gustafsson, President and CEO, tel: +358 10 661 10, email: leif.gustafsson@cramo.com
Mr Aku Rumpunen, CFO, tel: +358 40 556 3546, email: aku.rumpunen@cramo.com
Distribution:
Nasdaq Helsinki Ltd
Main media
www.cramogroup.com
Cramo is one of the leading European equipment rental services companies with revenue of EUR 632 million in 2018, serving approximately 150,000 customers through around 300 depots across 11 markets with a full range of machinery, equipment and related services. Cramo enjoys solid market position in all key markets and has a strong focus on the most sophisticated customers primarily within the renovation and new-build construction, industrial and public sector end-markets. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd.
Read more: www.cramogroup.com, www.twitter.com/cramogroup
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