Triton's tender offer for Caverion progresses; acceptance period begins March 8

Crayfish BidCo Oy, an entity indirectly controlled by Triton Fund V, has launched a voluntary public cash tender offer for all shares in Caverion Oyj, beginning March 8, 2023. The offer price is EUR 8.95 in cash per share validly tendered.

The Finnish Financial Supervisory Authority has approved the offer document. The acceptance period for the tender offer will commence on March 8 at 9:30 a.m. (Finnish time) and expire on May 17 at 4:00 p.m. (Finnish time), unless extended. Completion of the offer is subject to regulatory approvals and other customary conditions, with an expected completion during the third or fourth quarter of 2023.

Caverion's board has proposed a dividend of EUR 0.20 per share for 2022. If this dividend is paid before the settlement of the tender offer trades, the offer price will be reduced accordingly to EUR 8.75 per share.

The tender offer requires acceptance by shareholders representing more than 90 percent of Caverion's outstanding shares and voting rights. The offer document and related instructions are available on the websites of Danske Bank and Triton.