Aneo, HitecVision, and St1 are merging with the intention of consolidating their holdings in Biokraft International, which would trigger a mandatory bid.
Aneo Renewables Holding AS[1] ("Aneo") and St1 Sverige AB[2], which own approximately 36.5 percent and 18.6 percent respectively of the total number of shares and votes in Biokraft International AB ("Biokraft" or "the Company"), listed on Nasdaq First North Premier Growth Market, today announce their intention to consolidate their respective holdings in Biokraft into a newly formed company, 1Vision Biogas AB[3] ("1Vision Biogas") ("the Consolidation"). 1Vision Biogas will be owned 50 percent by St1 Nordic Oy ("St1") and 50 percent by Daytona Holdco AS, a holding company jointly owned by HitecVision through HV Daytona Holding AS ("HitecVision") and Aneo.
The consolidation is conditional upon obtaining the necessary permissions or approvals from relevant competition authorities and foreign direct investment (FDI) authorities, and will not be completed until such permissions or approvals are obtained. The parties expect to receive these permissions or approvals during the first quarter of 2024.
Provided that the necessary regulatory approvals or permissions for the Consolidation are obtained, 1Vision Biogas will, after the Consolidation, hold a total of 23,977,232 shares in Biokraft, representing approximately 55.0 percent of the total number of shares and votes in the Company. Thus, crossing the mandatory offer threshold under applicable takeover rules and 1Vision Biogas would be obliged to make a mandatory bid for the remaining shares in Biokraft within four weeks, unless within the same period 1Vision Biogas' shareholding in Biokraft is reduced so that it no longer constitutes 30 percent or more of the votes in the Company. 1Vision Biogas intends to fulfill its obligations by making a mandatory bid for the remaining shares in the Company at a bid price of SEK 20.65 per share in cash. 1Vision Biogas intends to make such an offer as soon as possible after obtaining the necessary regulatory approvals or permissions.
Aneo and St1 have been the largest shareholders in Biokraft since 2022 and have supported the Company's development. It is now Aneo's, HitecVision's, and St1's ambition to, provided the necessary regulatory approvals or permissions are obtained, and through 1Vision Biogas, make a mandatory bid for the remaining shares in the Company and continue to support the Company in becoming a leading Nordic biogas player. The aim is to continue Biokraft's exciting journey by actively working on future growth opportunities, such as the construction of new biogas plants in Germany and Sweden, and to explore further value-creating measures through operational and financial initiatives in close cooperation with the Company's management. With their previous experience in developing similar companies in the energy sector, Aneo, HitecVision, and St1 also provide the long-term perspective and financial resources needed to ensure the successful implementation of strategic initiatives. This contributes to developing a Nordic energy system taking steps to meet the Paris Agreement's climate goals.
Aneo is a Nordic company that invests in renewable energy production, electrification, and energy efficiency. Aneo is one of Norway's largest players in wind power, with an annual production of over 6 TWh and which owns 1.2 TWh of wind
