Octopus Bidco AS announces that the regulatory approvals condition has been satisfied for the recommended voluntary cash offer for all the shares in Ocean Yield ASA
Reference is made to the announcements on 13 September and 6 October 2021 and the offer document dated 5 October 2021 (the “Offer Document”) for the recommended voluntary offer (the “Offer”) by Octopus Bidco AS (the “Offeror”), a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (“KKR”) for all outstanding shares in Ocean Yield ASA against a consideration in cash of NOK 41.00 per share as adjusted in accordance with the terms of the Offer.
The Offeror hereby announces that it has received clearance from the Norwegian Competition Authority and the German Federal Cartel Office. Accordingly, the regulatory approvals condition to the Offer has been fulfilled.
Completion of the Offer remains subject to the fulfilment or waiver by the Offeror of the conditions for closing of the Offer as set out in the Offer Document, other than the regulatory approvals condition and the minimum acceptance condition (which was announced as satisfied on 6 October 2021), as further set out in section 4.5 (Closing Conditions) of the Offer Document. None of the conditions that refer to events that shall not occur have, to the Offeror’s knowledge, occurred. The complete terms and conditions for the Offer, including procedures for how to accept the Offer and detailed information regarding settlement, are set out in the Offer Document.
Shareholders that want to accept the Offer must fill out and return the acceptance form which is included in the Offer Document by CET 16:30 hours on 5 November 2021 (subject to extension).
Source: Ocean Yield ASA