NORWAY - Borea prepares for de-listing of Software Innovation
Norwegian buyout house Borea, through Borea Opportunity IV AS, has increased its stake in software developer Software Innovation ASA (SOI) to 90.4 % and initiates compulsory squeeze-out.
Borea launched the mandatory offer in December last year. The offer price of NOK 5.50 per share represented a premium of 88% compared with the closing price on Monday 1 December, and a premium of 37% compared with the average trading price in November.
The holding company Borea Opportunity IV AS is co-owned by Borea Opportunity II AS and Ojada AS controlled by Erik G. Braathen.
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