STOCKHOLM, Sweden, Feb. 17, 2003 (PRIMEZONE) -- The board of Scandiaconsult AB (Stockholm:SCC) is positive to a bid to acquire all remaining shares in Scandiaconsult AB from Ramboell A/S at a price of SEK 46 per share.
The Board of Scandiaconsult AB recommends unanimously that shareholders accept the bid now presented of SEK 46 per share. This is SEK 1 per share higher than the price at which Ramboell acquired its present 35-percent block of shares on October 29, 2002, and this means a bid premium of 22.4 percent on the average price paid during ten days before Ramboell's acquisition on October 29, 2002.
The Board of directors judges that Scandiaconsult's and Ramboell's operations complement each other geographically and as regards market. Together the two companies form the largest consulting engineering company in the Nordic region, which should strengthen positive future prospects for personnel and customers.
The Board also justifies their recommendation by the fact that the bid enables a requested holistic solution for all shareholders at an acceptable price.
The prospectus is expected to be available on February 24, 2003.
Alfred Berg Fondkommission are advisors to the Board of Scandiaconsult.
On behalf of the Board of Scandiaconsult,
Lars-Ove Hakansson, Chairman of the Board
For more information contact:
Chairman of the Board Lars-Ove Hakansson telephone +46 8 755 07 76 or mobile phone +46 70 540 82 62.
Scandiaconsult, with 2100 employees in more than 50 locations in Sweden, Norway, and Finland, is a leading consulting engineering company in the Nordic market. The Group offers comprehensive solutions in all technical disciplines from concept and analysis, planning, design and project management to operation and maintenance. Scandiaconsult has annual sales of SEK 1.6 billion and is quoted on the A list of the Stockholm Stock Exchange. For more information visit www.scc.se.
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