3i in DKK 1.5bn bid for BoConcept

Through the Layout Bidco vehicle, 3i has offered DKK 500 per share for the outstanding B-shares and DKK 615 per share for the outstanding non-listed A-shares. At the time of the voluntary bid, the GP had secured irrevocable undertakings for 67.5% of BoConcept's share capital and 81.5% of voting rights.

The bid follows a structured process in which former majority shareholder Viggo Mølholm and his family sought to exit their stake in BoConcept, after which the board engaged a financial adviser to find a buyer. The Mølholm family, management and other shareholders have agreed to sell their shares to 3i, and BoConcept said in a statement it expects the company board to recommend its shareholders accept 3i's bid.

In the 2015/16 financial year, BoConcept generated revenues of DKK 1.235bn and EBITDA of DKK 149m.

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