Cavotec has initiated a process to change the group’s domicile from Switzerland to Sweden. As part of this process, Cavotec Group AB, a wholly owned Swedish subsidiary of Cavotec SA, has announced a share-for-share exchange offer whereby the shareholders of Cavotec SA are offered to exchange their shares for shares in the new Swedish entity. The share exchange offer is recommended by the board of Cavotec SA and supported by shareholders who represent 83 per cent of the shares and votes of Cavotec SA. The shares of Cavotec Group are intended to be listed on Nasdaq Stockholm in connection with completion of the offer. The offer values Cavotec at approximately SEK 1.65 billion, based on the share price at offer announcement.
Cavotec is a global engineering company that designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications. Cavotec employs over 700 employees and its systems are installed in over 80 countries. The shares in Cavotec are admitted to trading on Nasdaq Stockholm under the ticker CCC.
KANTER advises Cavotec on the redomiciliation.