Global Courant
The article continues below the advertisement
In a stock exchange announcement on Tuesday evening, listed Q-Free wrote that Juniper Holdco has entered into an agreement to purchase Rieber & Søn’s 62.8 percent stake for NOK 12 per share, which corresponds to a 99 percent premium compared to the closing price on Tuesday evening. Tuesday.
Juniper Holdco is 70 percent owned by the Canadian fund Guardian Capital Group Limited and 30 percent by Rieber & Søn. The latter will continue as owner of Q-free.
– Rieber also wants to be a driving force in the further development of Q-Free in the coming years and in Guardian we have found a partner who we believe has the potential to contribute significantly to the growth of the company, both financially and through its network in North America, Rieber & Søn CEO Fritz Rieber said in a message.
Rieber & Son
The family business Rieber & Søn from Bergen has roots dating back to 1839 and grew with brands such as Toro, Mr. Lee, Vossafår and Vestlandslefsa. In 2012, Orkla bought the company from the Rieber family for 4.7 billion. The money is managed through the investment company Rieber & Søn, which for a while was called Atlantis Vest. Fritz Rieber has the largest share, while his sister Marianne Mangshcou Rieber and his father Bjarne Rieber have smaller shares. The company has invested in areas such as shipping, asset management and technology.The same offer of NOK 12 per share will be submitted to all other Q-Free shareholders, and a joint board will recommend the offer. The offer values the entire company, which develops toll technology, at NOK 1.3 billion.
If Juniper achieves an acceptance rate of 90 percent, the plan is to commit the remaining shareholders to a mandatory buyback and the company to be taken private. Q-free has been listed on the Oslo Stock Exchange since 2002.
Q-free
Q-Free is a technology company listed on the Oslo Børs and supplies toll systems both in Norway and abroad. The company is based in Trondheim, was founded in 1984 and has been listed on the stock exchange since 2002. Rieber & Søn is the largest owner of the company with a share of 62.8 percent.Guardian Capital Group is a Toronto-based asset manager with approximately 56.5 billion Canadian dollars under management, equivalent to more than 450 billion Norwegian kroner. Guardian President Robert Mah says:
– As experienced long-term infrastructure investors, we plan to contribute additional resources to this Trondheim-based company, with the aim of building on the company’s strong growth history.
The investor Edvin Austbø is the second largest shareholder of Q-free, with a three percent share and a value of NOK 20 million.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases via links that lead directly to our pages. Copying or other use of all or part of the contents may only be made with written permission or as permitted by law. For further conditions see here.
The Canadian fund and the Rieber family take over Q-Free
World News,Next Big Thing in Public Knowledg
#Canadian #fund #Rieber #family #QFree
