[ad_1]
SBB intends to increase its bid for the Norwegian real estate company Entra to NOK 190 per share. It is the result of the due diligence review that SBB has completed. SBB had previously offered NOK 165 per share, but that offer was later withdrawn.
“We believe that we offer the optimal strategic option for Entra stakeholders and an attractive valuation, as well as reliable value for Entra shareholders,” said Ilija Batljan, CEO of SBB, in a press release.
SBB’s announcement comes after Castellum raised its bid for Entra to NOK 185 per share on Friday.
SBB’s second offering is NOK 190 per share. The offer means that 65 percent of the consideration is delivered in cash and 35 percent in own B shares.
SBB will also, under certain conditions, work to list the company’s b shares on the Oslo Stock Exchange in 2021.
“Given the financial and operating profiles of Entra and SBB, we continue to believe that a merger of the two companies would be beneficial to all stakeholders. Together, we would be stronger and better positioned to offer flexible and competitive opportunities for our tenants and our employees will be able to find exciting job opportunities in a larger and more diversified group, ”says Ilija Batljan.
SBB also writes that it has “advanced discussions with a leading Norwegian institution”, with significant real estate exposure, which would support SBB’s strategy. “
One winner in the bidding war is Balder with Erik Selin at the helm.
Balder has bought Entra shares in a short time and just over a week ago it rose to just over 15 percent.
