Triton secures majority in Caverion; compulsory redemption planned

Crayfish BidCo Oy, indirectly controlled by the investment firm Triton, has announced the final results of its voluntary public cash tender offer for Caverion Corporation's shares. The offeror stated that 36,414,961 shares were validly tendered, representing approximately 26.57 percent of Caverion's total shares and votes.

Combined with shares already acquired during the offer period, Crayfish BidCo's total holding in Caverion now stands at approximately 94.39 percent. The tender offer, which commenced in March 2023, concluded on November 1, 2023. Shareholders who accepted the offer are expected to receive payment around November 27, 2023.

Crayfish BidCo intends to acquire all remaining shares in Caverion. Following the settlement of the tendered shares, the offeror plans to initiate compulsory redemption proceedings in accordance with Finnish Limited Liability Companies Act. The company's shares are expected to be delisted from Nasdaq Helsinki as soon as practicable.

Crayfish BidCo may also acquire additional shares on or after the release date through public trading or other means permitted by law. Triton is a Northern European investment firm focused on long-term business development.