NORWAY - Borea prepares for de-listing of Software Innovation

Oslo-based SOI develops and implements solutions for Enterprise Information Management to customers in Sweden, Norway, Denmark and Finland. Founded in 1984, the business employs approximately 470 people and is estimated to generate a turnover of NOK 440m in 2008.

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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