Hi zusammen,
hatte im letzten Frühjahr eine Mail an die shareholder-Betreuung von Radisson geschickt um das weitere Vorgehen zu erfahren. Eine Antwort kam ziemlich prompt von einer schwedischen Kanzlei (Baker & McKenzie). Teile die Antwort gern unten mit euch (Ansprechpartner habe ich rausgelöscht).
Dear XXX,
We have been asked to respond here.
The majority owner has after the successful takeover offer initiated a mandatory squeeze-out procedure in accordance with Chapter 22 of the Swedish Companies Act. This means that arbitrational proceedings will shortly, where a trustee appointed by the Swedish Companies Registration Office will represent your interest as a minority shareholder in the procedure. Through the procedure the majority owner will be able to acquire your shares for which you will receive an purchase price determined by the arbitrators (see further below). Typically a squeeze-out procedure after a successful takeover takes approximately 6-12 months, but can continue for longer depending on if the trustee representing the minority shareholders has a different opinion regarding the price compared to the majority shareholder. However, since the majority owner acquired over 90 percent of the shares outstanding in the beginning of the offer, a specific rule in the Swedish Companies Act stipulates that as a main rule the price should be the same as in the takeover offer, i.e., SEK 42.50 per share (whether the trustee agrees or not we do not know until the proceedings start).
Payment of the purchase price finally decided by the arbitrators will be made as soon as the arbitrators conclude their ruling within the time frame set out above.
No action is required from your side and you can just await the final ruling and the money will be paid to your account in exchange for your shares.
Happy Easter!
XXX
Advokat/Partner/Solicitor (England & Wales)
Capital Markets
Baker & McKenzie Advokatbyrå KB
Vasagatan 7
Box 180
SE-101 23 STOCKHOLM, SWEDEN
