Ratos accepts bid for Meto
- Ratos accepts Checkpoint's bid for Meto.
- Estimated capital gain for Ratos SEK 217M.
On August 11, Checkpoint Systems Inc. made a bid for the shares in Meto equivalent to SEK 65 per share. The bid is conditional on the acceptance of the bid by owners of at least 95 per cent of the shares in Meto, on the necessary permissions being obtained from the competition authorities concerned, and on an acquisition of Meto not being made wholly or partly impossible because of other circumstances outside Checkpoint's control.
On September 13, Meto's Aufsichtsrat and its Vorstand announced that they, following an evaluation of the bid, recommended that Meto's shareholders accept the bid. Based on this, Ratos has decided to accept Checkpoint´s bid and sell its approximately 13 per cent stake in Meto.
As owner in Esselte, Ratos contributed actively to the Initial Public Offering of Meto and is also represented on Meto's Aufsichtsrat.
If all the conditions for Checkpoint's bid are met and the deal completed, a capital gain of approximately SEK 217M is expected in the Ratos Group.