International Courant
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On Wednesday night, the takeover fund Kangaroo – managed by funding financial institution Goldman Sachs – introduced that it has greater than 84 p.c of the shares in Kahoot. After greater than three months of choosing up e-learning shares, Kangaroo is about to take the whole firm non-public in a short while. Solely slightly below six p.c of the shares stay earlier than the remainder of the shareholders are required to be redeemed.
The corporate will report a income replace on Thursday morning – with out offering a full third-quarter report. The inventory trade launch reveals that Kahoot’s income within the three-month interval ended at $42.3 million, a rise of 16 p.c.
As well as, Kahoot CEO Eilert Hanoa states that the corporate will obtain a damaging contribution to money stream of 76 million {dollars}, or 850 million kroner, in reference to the supply settlement. The 850 million will go to the reimbursement of choices that workers have, but in addition to monetary and authorized advisors, it says.
Kahoot makes use of ABG Sundal Collier and Morgan Stanley & Co. as monetary advisors and Advokatfirmaet Thommessen as authorized advisor.
Priced at DKK 17.2 billion.
The investor group behind Kangaroo has put a suggestion of NOK 35 on the desk, and Kahoot’s share value has additionally been stagnant there in current weeks. The corporate values it at NOK 17.2 billion.
The deadline for the bid has been postponed by each the bidders and the disgruntled sellers, and is pending approval by the authorities. Whereas the Danish entrepreneurial household Kirkbi, which is behind Lego, agreed to Kangaroo’s supply early on, Folketrygdfondet was amongst those that had been reluctant and Christen Sveeas’ funding firm Kistefos was crucial.
A number of the criticism was aimed on the Kahoot boss himself and administration, who indicated early on that they supported the investor group’s bid. Additionally they indicated that they might make investments extra along with Kangaroo.
– We have now seen plenty of circumstances within the media that may be liable to creating misunderstandings as a result of the supply will not be introduced in a completely complete method or is misunderstood. It will be significant that every one shareholders perceive what the supply entails and might make an knowledgeable selection, Kahoot chairman Andreas Hansson advised DN in August.
The Kahoot supervisor was allowed to ring the bell of Oslo Børs in Oslo, which was closed by corona – from his personal workplace.
March 2021: Kahoot was listed on the Oslo Inventory Change from Kahoot’s personal premises at Oslo Metropolis Corridor.
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Printed: 18.03.21 — 10:07
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Kahoot settlement for choices and advisors: NOK 850 million
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