Geveran Trading Co. Ltd. hired Arctic Securities AS as thefinancial adviser and receiving agent for its mandatory takeover bid forNorwegian PropertyASA.
Geveran is offering 10.80 Norwegian kroner per share for all theremaining Norwegian Property shares that it does not own. The offer will expireOct. 20.
Norwegian Property also disclosed that as of Sept. 29,Geveran holds 293,519,602 shares of the company — including 17,267 shares andvotes that it received as part of the mandatory offer — representing anapproximately 53.52% stake.
Advokatfirmaet BA-HR DA is acting as legal adviser toGeveran in connection with its bid.
As of Sept. 30, US$1was equivalent to 7.99 Norwegian kroner.