Biokraft International

Aneo Renewables Holding AS and St1 Sverige AB have today announced their intention to consolidate their ownership in Biokraft International AB (publ) ("Biokraft") into a jointly owned limited company, 1Vision Biogas AB ("1Vision Biogas"). The consolidation is subject to approval from relevant competition authorities and foreign direct investment (FDI) authorities and will not be completed until approvals have been obtained. 

If such approvals are obtained, 1Vision Biogas' holding will amount to approximately 55 percent of the shares and votes in Biokraft, thereby exceeding the threshold for mandatory bids under applicable takeover rules. 1Vision Biogas is then obliged to make a mandatory public offer for the remaining shares in Biokraft within four weeks, unless 1Vision Biogas' shareholding is reduced so that it no longer amounts to 30 percent or more of the votes in Biokraft within the same period.

According to the press release from 1Vision Biogas, the company intends to complete the mandatory offer obligation as soon as possible from the approval of the consolidation. For more information, please refer to 1Vision Biogas' press release (link).

In the event that 1Vision Biogas announces a mandatory public offer to the shareholders of Biokraft, the Board of Directors will revert in accordance with applicable rules.