Following the public offer to shareholders of Ahlsell AB (publ) submitted by Quimper AB, a private limited company that has been or will be indirectly invested by CVC funds, on December 11, 2018, the Board of Directors has appointed an independent bid committee (Committtee).
The independent bid committee to represent Ahlsell in connection with the offer will consist of the following board members: Satu Huber (Chair of the bid committee), Magdalena Gerger, Susanne Ehnbåge and Terje Venold.
”I look forward to leading the work of the committee and will within shortly present the financial advisors chosen. We will do a thorough analysis and work for the best interests of all shareholders. We will publish our statement well in advance, and no later than two weeks before the end of the acceptance period.", says Satu Huber.
Satu Huber has been a Board member of Ahlsell AB since 2016 and is the CEO of Elo Mutual Pension Insurance Company in Finland, with assets under management of approximately BEUR 23.
The board members Sören Vestergaard-Poulsen, Gustaf Martin-Löf and Peter Törnquist are considered biased, as they are either employees or advisors to CVC Capital Partners, hence they will not participate in the Ahlsell Board's handling of matters relating to the offer. Kenneth Bengtsson, Chair of the Board, and Johan Nilsson, Board member and CEO of Ahlsell AB, have decided to refrain from participating in issues related to the offer to avoid potential conflicts of interest. This is done in accordance with the take-over rules as a result of having invested in CVC funds that indirectly have, or will invest in Quimper AB. According to the Swedish Code of Corporate Governance, both Kenneth Bengtsson and Johan Nilsson remain independent of CVC.
For further information, please contact:
Satu Huber, Member of Board, Ahlsell AB and Chair of the independent bid committee
Karin Larsson, Head of IR and external communications
+ 46 8 685 59 24, Karin.Larsson@ahlsell.se
Ahlsell is the Nordic region’s leading distributor of installation products, tools and supplies for installers, construction companies, facility managers, industrial and power companies and the public sector. The unique customer offer covers more than one million individual products and solutions. The Group has a turnover of just over BSEK 30 and is listed on Nasdaq Stockholm. About 97% of revenue is generated in the three main markets of Sweden, Norway and Finland. With about 5,800 employees, more than 230 branches and three central warehouses, we constantly fulfil our customer promise: Ahlsell makes it easier to be professional!
Press release, December 14, 2018