19 May 2024, 02:32
By Furniture News Jun 06, 2016

BoConcept sale agreed

Denmark furniture retailer BoConcept A/S is to be sold to Layout Bidco A/S, which is affiliated to London-based private equity company 3i Group plc.

Layout Bidco A/S will submit a conditional voluntary public offer to BoConcept's shareholders to purchase all B-shares in cash for DKK500 each (around £53), and all non-listed A-shares for DKK615 (around £65) per share – a total purchase price for the share capital of DKK1.45b (£153m).

The announcement follows a process initiated early H1 2015 after the controlling shareholder in the company, Viggo Mølholm, informed the board of his intention to divest his controlling stake in the company.

The board then engaged a financial adviser, who worked to identify potential buyers. After discussions with potential buyers, Layout Bidco submitted a voluntary conditional public offer.

Layout Bidco will publish an offer document as soon as it has been approved by the Danish Financial Supervisory Authority, and by the end of the month.

The global retail furniture chain operates through more than 250 outlets in 60 countries.

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