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
On 11 December 2003 the Joint Bidders decided to complete the offer and waive the 90% acceptance condition. As a result the offer was declared unconditional. On 9 January 2004 the Joint Bidders announced that the acceptance period was extended to 15.00 (CET) on Friday, 16 January 2004. During this extension period, a further approximately 1000 shareholders accepted the offer.
Shareholders representing 21,281,562 shares, corresponding to 82.3% of the total number of shares and votes of Tornet, have accepted the offer. In order to provide an opportunity for the remaining shareholders to accept LRT Acquisition's offer, the acceptance period is now extended until 15.00 (CET) on Friday, 6 February 2004. Cash settlement is expected to occur on 12 February 2004. The Joint Bidders have decided to terminate the offer on February 6, 2004.
Accordingly, this final extension period is the last opportunity for the shareholders to accept the offer.
Stockholm, 23 January 2004
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