Key Developments: Ratos AB (RTOBF.PK)
8.99USD
17 May 2013
$-0.16 (-1.75%)
$9.15
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Latest Key Developments (Source: Significant Developments)
Ratos AB Receives EGM Approval to Transfer Shares in BTJ Group AB to Mr. Per Samuelson or to Acquisition Company Controlled by Him
Ratos AB announced that the Company's Extraordinary General Meeting resolved in accordance with the Board's proposal to approve the transfer of all shares in the subsidiary BTJ Group AB to Mr. Per Samuelson, Chairman of the Board of BTJ Group, or to an acquisition company controlled by Mr. Per Samuelson. The transfer will be completed during the second quarter of 2013 and will not generate any significant capital gain or capital loss for Ratos. Full Article
Ratos AB's Bisnode Sells Svenska Nyhetsbrev-SIX
SIX reported that Ratos AB's subsidiary, Bisnode, is to sell Svenska Nyhetsbrev. Bisnode is co-owned by Ratos (70%) and Bonnier (30%). Financial detail were not disclosed. Full Article
Ratos AB Plans to Transfer Shares in BTJ Group AB
Ratos AB announced that its Board of Directors proposes that the general meeting resolves on approval of a transfer of shares in the subsidiary BTJ Group AB. Ratos and Litorina, which together own all the shares in BTJ Group, have concluded an agreement on transfer of all the shares in the company to Per Samuelson, Chairman of the Board of BTJ Group, or to an acquisition company controlled by Per Samuelson. The transfer is conditional on approval by a Ratos general meeting. BTJ Group is a supplier of media products and information services, primarily to libraries in Sweden and Finland. Ratos became an owner of BTJ Group in conjunction with the formation of BTJ Infodata in March 2004. During 2005, BTJ Infodata Group was split whereby BTJ Group became a separate holding. Ratos's holding in BTJ Group amounts to 66%. The purchase price for all the shares amounts to SEK 1. Taking the company's net debt into account, the purchase price corresponds to an enterprise value of SEK 43 million. During 2012, the owners have, with the assistance of an external financial advisor, conducted a sale process of BTJ Group without bids at a higher level than that of Per Samuelson’s having been submitted. The transfer does not give rise to any significant capital gain or loss in Ratos. Ratos's ordinary Annual General Meeting will be held on April 17, 2013 at 17.00 CET. Full Article
Ratos AB Announces Acquisition of Nebula Oy
Ratos AB announced that it has signed an agreement, together with Rite Ventures and the company's management, to acquire Nebula Oy, Finland's provider of cloud services to small and medium-sized companies. The purchase price (enterprise value) for 100% of the company amounts to EUR 82.5 million, of which Ratos will provide equity of approximately EUR 35 million. Subsequent earn-outs may be paid. The company is currently owned to approximately 80% by Rite Ventures and 20% by its management and founder. Ratos will acquire approximately 75%, Rite Ventures will retain a 15% holding and management and other key people will have a holding of approximately 10%. Full Article
Ratos AB and Bonnier Create New Cinema Business
Ratos AB announced that the agreements have been signed regarding a merger of Bonnier's SF Bio and the Company's subsidiary, Finnkino, that together will form a new Nordic region's cinema group. The new business will be owned 60% by Ratos and 40% by Bonnier. The business will have operations in Sweden, Finland, Norway, Estonia, Latvia and Lithuania. The enterprise value for 100% of the newly established company amounts to approximately SEK 3 billion. The new company will have sales of approximately SEK 2.6 billion, with an operating profit (EBITA) of approximately SEK 360 million. The acquisition consists of a merger of SF Bio and Finnkino and includes no capital from Bonnier or initially from Ratos. Full Article
Ratos AB Announces Details on FY 2012 Dividend
Ratos AB announced that its Board proposes an ordinary dividend of SEK 3.00 per Class A and Class B share. The record date for the right to receive dividends is proposed as April 22, 2013 and dividends are expected to be paid on April 25, 2013. Full Article
Ratos AB Proposes FY 2012 Dividend of SEK 3 per Share
Ratos AB announced that as a consequence of the acquisition of Aibel announced on December 18, 2012, the Board has decided to propose to the Annual General Meeting that the ordinary dividend for fiscal year 2012 be reduced to SEK 3 per share. For fiscal year 2011, the Company paid a dividend of SEK 5.50 per share. The Board has also proposed an updated dividend policy which is designed to provide greater predictability. The dividend over time shall reflect actual earnings development in Ratos. Historically an average of over 50% of profit after tax has been paid as a dividend. The aim is for an even development of the dividend. Earnings development in Ratos' holdings has been mixed in 2012 where approximately half of the holdings reported higher earnings compared with fiscal year 2011 after the first nine months. The holdings' earnings development in the fourth quarter of 2012 started at the level of the same period in fiscal year 2011 but is expected to be slightly lower than 2011 for the fourth quarter as a whole, which is in line with the assessment made in the recent interim report. The Annual General Meeting will be held on April 17, 2013. The record date and the date for payment of the dividend will be announced at the latest in the notice of the Annual General Meeting. Full Article
Ratos AB and Ferd Acquire Aibel
Ratos AB announced that the Company and the Sixth AP Fund together with the Norwegian industrial and financial group Ferd, have signed an agreement to acquire all the shares in Aibel. Ratos will own 32% of Aibel, the Sixth AP Fund 18% and Ferd 50%. Ratos and Sixth AP Fund will invest via a jointly owned company which will be represented by Ratos on Aibel's Board. Ferd and Ratos will represent 50% each of the ownership in Aibel. The purchase price for 100% of Aibel amounts to approximately NOK 8,600 million and Ratos will provide equity of approximately NOK 1,400 million. The final amount invested by Ratos will be affected by cash flow until closing. Aibel is a Norwegian service company within oil, gas and renewable energy. The company has approximately 8,000 employees, of which 2,400 are temporary staff, and operations along the entire Norwegian coast as well as in Asia. In 2012, Aibel's sales will total over NOK 10 billion with an EBITDA-margin of approximately 9%. Ratos is making this acquisition via a company owned jointly with Sixth AP Fund. Ferd currently owns 80% of Aibel, directly and via its investment in Herkules Private Equity Fund II. In the new ownership structure Ferd will own 50% of Aibel while Herkules sells its entire holding. The acquisition is subject to approval from the relevant regulatory authorities and is expected to be completed during the first quarter of 2013. Full Article
Ratos AB's Contex Group Sells Contex A/S to Procuritas Capital Investors V LP
Ratos AB (Ratos) announced that its subsidiary, Contex Group, has signed an agreement to sell Contex A/S to the private equity fund Procuritas (Procuritas Capital Investors V LP). The selling price amounts to USD 41.5 million. In conjunction with the completion of the deal, Contex Group will be wound up and a dividend paid whereby Ratos will receive approximately SEK 175 million. The exit result in Ratos is expected to amount to approximately SEK -125 million, calculated on the book value of Contex Group at September 30, 2012. The final exit result will be affected, among other things, by earnings from Contex A/S during the period until completion of the deal. Average annual return (IRR) on the total investment in Contex Group has been -16%. The sale is expected to be completed at the beginning of January 2013. Ratos's holding in Contex Group is 99.6%. Contex A/S is a manufacturer of large-format 2D scanners sold both under its own brand and as an OEM supplier to HP, among others. Ratos acquired Contex Group in 2007 when the company consisted of three subsidiaries: Contex A/S, Z Corporation and Vidar Systems. The two latter companies were sold to the American company 3D Systems in 2011. Full Article
Ratos AB's Subsidiary Lays Off Employees-SIX
SIX reported that Inwido, a 97%-owned subsidiary of Ratos AB, has decided to lay off 75 employees in Sweden. The layoffs concern the production in Vetlanda, Bjurtrask and Lenhovda (25 positions in each location). Full Article
BRIEF-Ratos says buys Finland's Nebula
STOCKHOLM, March 25 - Ratos : * Says buys Nebula, price (enterprise value) 82.5 MEUR * Says has signed agreement, together with Rite Ventures and the company's management, to acquire Nebula Oy, Finland's leading provider of cloud services to small and medium-sized companies * Says purchase price (enterprise value) for 100% of the company amounts to EUR 82.5 million, of which Ratos will provide equity of approximately EUR 35 million * Says subsequent earn-outs may be paid * Says Ne
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