Melker Schörling AB (MSAB) has become the largest shareholder in Beijer Ref.
MSAB entered into an agreement to acquire all of EQT’s and Peter Jessen Jürgensen’s outstanding A-shares in Beijer Ref AB (publ) for an undisclosed premium.
As a result of the transaction, MSAB will become the largest shareholder in Beijer Ref in terms of voting rights, holding 14.1 per cent of the votes and 2.1 per cent of the share capital.
The transaction marks the start of a long-term change of ownership, with MSAB intending to gradually increase its stake in Beijer Ref, focusing on continued industrial development and long-term value creation.
MSAB and Beijer Ref board chair, Per Bertland, have simultaneously entered into a mutual right of first refusal agreement regarding their holdings of A-shares in the company.
As the largest shareholder in terms of voting rights, MSAB will appoint the chair of the Nomination Committee when it is formed in September, in accordance with Beijer Ref’s instructions for the Nomination Committee.
Bertland said for many years, EQT has been an important and committed owner that has contributed significantly to Beijer Ref’s development and position.
“The Board would like to extend its warmest thanks to EQT for the excellent cooperation and their significant contributions, and looks forward to continuing to work together,” he said.
“We would also like to thank Peter Jessen Jürgensen for his valuable contribution to the company’s development and are delighted that Peter is simultaneously reinvesting in Beijer Ref by increasing his holding of B-shares.
”At the same time, we welcome MSAB as our new majority shareholder. MSAB represents a long-term, industrial ownership approach that is fully in line with Beijer Ref’s strategy and ambitions for the future. We look forward to a close and constructive partnership.”
MSAB chair, Mikael Ekdahl, said he plans on becoming a long-term and committed owner in Beijer Ref.
“We have been following the company for some time and are impressed by what has been achieved,” Ekdahl said.
“As an active and long-term owner, we look forward to working closely with the board and management and to contributing to the company’s continued industrial and global growth.”