VARNAMO, Sweden, Nov. 15, 2004 (PRIMEZONE) -- The Board of Directors of Finnveden AB ("Finnveden") has evaluated the public offer made to the shareholders of Finnveden of SEK 75 per share in cash announced by Cidron Invest AB, a company fully owned by Nordic Capital Fond V, today (the "Offer").
The Board of Directors of Finnveden has evaluated the terms and conditions for the Offer and in connection therewith retained Carnegie Investment Bank AB ("Carnegie") as financial adviser. The evaluation brings the Board of Directors of Finnveden to make the following statement:
Carnegie, which has been retained by the Board to evaluate the Offer made to Finnveden's shareholders, states in its fairness opinion that the Offer is fair from a financial point of view.
Based on these circumstances and following an overall assessment, the Board is of the opinion that the Offer of SEK 75 per share is fair and has therefore unanimously decided to recommend the shareholders to accept the Offer.
Gothenburg November 15, 2004
Finnveden AB (publ)
The Board of Directors
For further information, please contact: Staffan Hakanson, Chairman, +46 705 45 41 83
Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and structural components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.8 billion, with 3,300 employees. Additional information is available on Finnveden's website: www.finnveden.com
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