This press release may not be released, published or distributed, directly or indirectly, in or into the United States of America, Australia, Japan, Canada, New Zealand or South Africa.
On 20 October 2003, Lehman Brothers Real Estate Partners, L.P. and related funds and Ratos announced a recommended cash offer of SEK 190 for each share of Fastighets AB Tornet. The offer was made through LRT Acquisition AB, a Swedish company indirectly owned by Lehman Brothers Real Estate Partners at
60% and Ratos at
40%. The acceptance period expired 15.00 (CET) on Friday, 5 December 2003.
The number of acceptances together with the number of shares covered by conditional sale agreements total 81.4% of the number of shares and votes in the Company. Shareholders representing 15,732,955 shares, corresponding to 60.8% of the total number of shares and votes of Fastighets AB Tornet, have accepted the offer and shareholders owning shares representing
in total 20.6% of the votes and capital in Tornet have agreed to sell their shares under conditional sale agreements. In total, approximately 71,000 of Tornet's 82,000 directly registered shareholders have accepted the offer.
The bidders have decided to complete the offer and waive the 90% acceptance condition and as a result the offer is hereby declared unconditional.
Cash settlement in relation to shareholders who have accepted the offer is expected to occur on 17 December 2003.
In order to provide an opportunity for the remaining shareholders to accept the offer, the acceptance period is extended until 15.00 (CET) on Tuesday, 30 December 2003. Cash settlement in relation to shareholders who accept the offer during the extended acceptance period is expected to occur on 14 January 2004.
Stockholm, 11 December 2003
For further information, please contact:
Mark H. Newman, Managing Director
Lehman Brothers Real Estate Partners, L.P.
Telephone number: +44 207 601 00 11
Telephone number: +46 8 700 17 00