Cary Group Applies for Stock Delisting
CVC Funds and Nordic Capital's Teniralc control over 90 percent of Cary Group's shares. Consequently, the company's board has decided to apply for its shares to be delisted from Nasdaq Stockholm.
Cary Group is seeking to delist its shares from Nasdaq Stockholm after Teniralc BidCo AB (Teniralc), controlled by CVC Funds and Nordic Capital, acquired more than 90 percent of the company's stock. This acquisition paves the way for the compulsory redemption of the remaining shares.
Teniralc announced a public cash offer to Cary Group's shareholders on June 29, 2022. The initial offer was SEK 65 per share, which was subsequently increased to SEK 70 per share on September 7, 2022. Teniralc declared the offer unconditional and completed the transaction on September 23, 2022.
Following Teniralc's request, Cary Group's board has resolved to apply for the delisting. The final trading day for Cary Group's shares on Nasdaq Stockholm will be announced once confirmation is received from the exchange. The board will also convene an extraordinary general meeting to, among other things, elect a new board of directors.
Cary Group specializes in vehicle glass repair and replacement services, along with complementary vehicle damage repair. The company focuses on providing customers with simplified and sustainable choices through high-quality products and smart solutions.