Today, 29 March 2021, Corem Property Group AB (publ) (the “Offeror” or “Corem”) announced a public offer with consideration in the form of newly issued shares in Corem (the “Offer”) to the shareholders of Klövern AB (publ) (”Klövern”).

The Offeror’s major shareholders, M2 Asset Management AB (publ) and Gårdarike AB, are also significant shareholders in Klövern and, according to the Offeror, have entered into irrevocable undertakings to accept the Offer. According to the Offeror’s press release, M2 Asset Management and Gårdarike currently own, in total, approximately 27.2 per cent of the outstanding capital in Klövern with approximately 44.0 per cent of the outstanding votes.

Further information regarding the Offer is available in the Offeror’s press release issued today. An offer document is expected to be published by the Offeror on or around 10 May 2021. See also www.corem.se/en/section/offer-for-klovern/. The acceptance period for the Offer is expected to end on 8 June 2021.

The board of directors of Klövern¹ has appointed Carnegie Investment Bank AB (publ) as financial advisor and Advokatfirman Vinge KB as legal advisor in connection with the Offer. The board of directors will also engage an independent valuation expert to provide a fairness opinion regarding the Offer. The board of directors, together with its advisors, will evaluate the Offer and will publish its opinion on the Offer at the latest two weeks prior to the end of the acceptance period.

Pia Gideon, chairman of the board of Klövern, comments: “We have had a dialogue for some time regarding a possible offer from Corem. The board of directors will now thoroughly evaluate the offer and present its opinion to the shareholders in due course.”

Stockholm, 29 March 2021
Klövern AB (publ)
The Board of Directors

For further information, please contact:
Pia Gideon, chairman of the board of Klövern
Telephone: +46 76 768 00 76 

Klövern is a real estate company committed to working closely with customers to offer them attractive premises in growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see www.klovern.se.

Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 10 482 70 00. E-mail: info@klovern.se.

This is information that Klövern AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:10 CEST on 29 March 2021.

This is a translation of the original Swedish language press release. In the event of discrepancies, the original Swedish wording shall prevail.

¹ Board member Eva Landén and Rutger Arnhult, board member in Klövern up to and including 25 March 2021, due to a conflict of interest have not participated and will not participate in the board’s handling of or decisions regarding the Offer. The independent board members are Pia Gideon, Ulf Ivarsson and Johanna Fagrell Köhler. Thus, these board members constitute the independent board of directors of Klövern on matters relating to the Offer.