The Thon Group has made a bid for Olav Thon.
Image: Istock
Norway —
Thon Group makes a cash offer of NOK 335 per share in Olav Thon Eiendomsselskap, corresponding to a total value for the property company of approximately NOK 34 billion. Thon Group will delist the company from the Oslo Stock Exchange following the transaction.
The offer represents a 23 percent premium to Tuesday's closing price. Thon Gruppen already controls over 75 percent of the shares and intends to delist the company from the Oslo Stock Exchange after the deal.
The bidder already has acceptances corresponding to 6.7 percent of the capital in addition to its own shareholding.
ABG Sundal Collier is advising.
Olav Thon, who founded the property empire, passed away last year. He was 101 years old.
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