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ASSA ABLOY Completes Acquisition of Majority Stake in agta record

agta record will be consolidated into ASSA ABLOY as of Aug. 31, 2020.

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By: Anthony Locicero

Copy editor, New York Post

ASSA ABLOY, previously a 39% shareholder in the Swiss company agta record ag, has completed the indirect acquisition of the 54% shareholding in agta record from the shareholders of Agta Finance.
 
ASSA ABLOY now owns approximately 93% of the share capital and voting rights of agta record.
 
The purchase price for the Acquisition amounts to approximately MEUR 506, equivalent to an adjusted purchase price per agta record share of €70.58.
 
As previously announced, ASSA ABLOY will immediately after the acquisition file a proposed simplified public tender offer for the remaining outstanding shares of agta record, listed on Euronext Paris, at an adjusted price of €70.58 per agta record share, subject to the French AMF’s regulatory approval.
 
agta record will also apply for the delisting of its shares from Euronext Paris immediately after the Acquisition. Subject to the Euronext Paris approval, the delisting will become effective shortly after the closing of the offer.
 
agta record will be consolidated into ASSA ABLOY as of Aug. 31, 2020.

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