Aros Bostadsutveckling AB (publ) has announced a recommended public takeover offer to the shareholders of Besqab AB (publ) to tender all of Besqab’s outstanding shares to Aros Bostad, in exchange for consideration of newly issued common shares and newly issued series B preference shares in Aros Bostad. The offer is unanimously recommended by the board of directors of Besqab and is supported by shareholders representing approximately 73 percent of the total votes and capital in Besqab. The total value of the offer amounts to approximately SEK 1,861 million.
Aros Bostad has, since 2006, been developing well-planned, high-quality residential housing focused on Greater Stockholm and Uppsala. Aros Bostad is listed on the Nasdaq First North Growth Market.
Besqab develops residential housing in attractive locations in Stockholm and Uppsala. The business covers the entire process from purchasing and refining land to completion and management of residences and care facilities. Besqab was founded in 1989, and the company’s shares have been listed on Nasdaq Stockholm since 2014.
Baker McKenzie acted as legal adviser to Aros Bostad with a team from several practice groups consisting of Stefan Balazs, Joakim Falkner, Per Blom, Monica Ericson and Oscar Bang from Capital Markets, Ylva Hult Palmryd, Dennis Engstrand and Nora Coter from Real Estate, Carl Svernlöv, Carl Bohman, Carl Isaksson and Simon Olofsson from Corporate, Linnea Back and Ulrika Udén from Tax as well as Xandra Ståhlberg and Samuel Hertsberg Åsander from Competition.