TORGHATTEN acquired by EQT PARTNERS

The deal involves EQT Infrastructure V fund's voluntary cash offer to acquire all outstanding shares in Torghatten ASA, excluding the airline segment, through HATI BidCo AS. The offer price is set at NOK 175 per share, with an additional distribution of shares in Flyco AS to existing shareholders, valuing each Torghatten share at NOK 192. This represents a 14% premium to the last registered trading price on Norway's NOTC. The transaction is subject to certain conditions, including a minimum acceptance level of 2/3 of the issued and outstanding share capital of Torghatten, regulatory approval, and the amendment of Torghatten's articles of association. The deal is expected to support Torghatten's continued growth and sustainability efforts, with EQT Infrastructure V fund committed to providing resources and expertise to drive the company's development. The acquisition is seen as a strategic move to enhance Torghatten's market position and competitiveness, while also aligning with EQT's investment strategy and commitment to sustainable growth. The deal's success is contingent upon the satisfaction of the specified conditions, and the offer period is expected to last until February 2021, subject to extensions. The transaction is expected to have a positive impact on Torghatten's operations, enabling the company to further develop its critical services and sustainability profile, ultimately benefiting its customers, employees, and partners across Norway.