Further, Entra informs that it prior to today’s offer from SBB has received a separate non-binding proposal from another party that may or may not lead to an offer for the shares in the company.

Shareholders are advised to refrain from taking any action in respect of their shares in the Company that may be prejudicial to their interests. In particular, the Board notes that any accumulation of shares by any party may impact the opportunity for other parties to engage, which may impact the possibility for maximizing the value of Entra for the shareholders.

The Board has engaged ABG Sundal Collier ASA and Wikborg Rein Advokatfirma AS as its financial and legal advisor, respectively.

The terms of the offer imply a total equity value for Entra of NOK 30,052 million. In aggregate, up to a total of NOK 21.0 billion will be paid as Cash Consideration and the issuance of a number of SBB Class B Shares representing up to a total of NOK 9.0 billion will be settled as Share Consideration. The SBB Class B Shares are traded on Nasdaq Stockholm, Large Cap.

Commenting on the bid, CEO of SBB, Ilija Batljan, said:

“We would like Entra to become part of SBB and join us in our ambition to create the leading social infrastructure company in Europe, a company with a unique, attractive and stable property portfolio with long leases, high occupancy rates and a diversified and high-quality tenant base across the Nordics. We see opportunities to unlock significant synergy potential particularly from refinancing benefits accelerating financial cost and operational savings, which will benefit all shareholders and other stakeholders.”