2 April 2025
A.P. Moller Holding announces recommended voluntary purchase offer for all issued shares in Svitzer
A.P. Moller Holding, the largest shareholder in Svitzer Group A/S (Svitzer) has, through its wholly owned subsidiary APMH Invest A/S, today announced a recommended voluntary purchase offer for all issued shares in Svitzer with the aim of taking the company private to better support its long-term ambitions.
Svitzer was listed on Nasdaq Copenhagen in April 2024. A.P. Moller Holding does not believe that the listing has resulted in the expected investor interest. The listing has thus not created the desired platform for growth, which is essential for maintaining Svitzer’s market position in a competitive and fragmented industry undergoing consolidation. Over time, this may limit Svitzer’s ability to pursue opportunities in the market.
“Since Svitzer was listed, the company has consistently delivered results above expectations. However, we have not seen this reflected in the valuation of the share, which means that the listing has not offered a foundation from which Svitzer can grow. We therefore believe that Svitzer is better supported through private ownership and that, with the financial support of A.P. Moller Holding, the company will be better positioned to strengthen its market position and capitalize on the opportunities in the market.”
A.P. Moller Holding already owns approximately 47% of Svitzer’s share capital and has secured support for the offer from shareholders which together with A.P. Moller Holding’s existing shareholding represents 61% of Svitzer’s share capital.
A.P. Moller Holding is offering DKK 285 per share for all issued shares, representing a premium of 42.5% compared to the opening price on the first trading day, a premium of 31.7% compared to the closing price on 1 April 2025, and a premium of 31.3% compared to the three-month volume-weighted average price.
If the proposed ordinary dividend of DKK 8.00 per share is approved at Svitzer’s annual general meeting on April 10, 2025, the offer price will be adjusted for the paid-out dividend.
The independent board members of Svitzer recommend in their statement published today that Svitzer’s shareholders accept the offer.
The offer is subject to customary conditions including A.P. Moller Holding owning or having received valid acceptance from shareholders with respect to shares representing more than 90% of the total shares in Svitzer, after which A.P. Moller Holding will initiate a compulsory acquisition of any remaining shares and delist the company.
“We see it as our role, through active ownership, to create the best conditions and structures for our portfolio companies to develop positively. We aim to secure Svitzer's market position and growth and is offering an attractive price above the highest historical closing price and well above current trading, reflecting Svitzer’s strong performance.”
Svitzer will continue to operate independently with its current leadership and strategy, maintaining its name and brand that has defined the company for more than 190 years.
For further information on the voluntary recommended purchase offer, please visit www.svitzer.com.
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