AB Industrivärden

05/10/2021 | Press release | Distributed by Public on 05/10/2021 09:53

Industrivärden contemplates to divest the shareholding in SSAB

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Morgan Stanley and Carnegie have been retained to evaluate the possibilities of a divestment of Industrivärden's holding of 44,334,933 class A shares in SSAB to Swedish and international institutional investors. The holding corresponds to 4.3 percent of the capital and 11.8 percent of the voting rights in SSAB.

If the divestment is completed, it will be made and the price will be determined, by means of an accelerated book building process. The process will begin immediately and may be terminated with short notice. Further information will be published as soon as the book building process has been completed.

Morgan Stanley is acting as Sole bookrunner and Carnegie as Co-bookrunner in connection with the transaction.

Stockholm, 10 May 2021

AB INDUSTRIVÄRDEN (publ)

For further information, please contact:

Sverker Sivall, Head of Corporate Communications and Sustainability, tel. +46-8-666 64 00

The information was submitted for publication, through the agency of the Head of Corporate Communications and Sustainability, Sverker Sivall, on 10 May 2021 at 5:45 p.m. CET.

Important Notice:

This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction in which such an offer or solicitation is unlawful, including without limitation, the United States, Australia, Canada, Japan or South Africa. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions. No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Morgan Stanley may participate in the offering on a principal basis.

This announcement and the information contained herein, is not an offer of securities for sale in, and is not for transmission to or publication, distribution or release, directly or indirectly, in the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the 'United States'). The securities being offered have not been and will not be registered under the US Securities Act of 1933, as amended (the 'Securities Act'), or under any applicable securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly, in the United States unless registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, such registration requirements of, the Securities Act and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the securities discussed herein is being made in the United States.

This announcement is directed only at: (A) persons in member states of the European Economic Area (the 'EEA') who are 'qualified investors' within the meaning of the Prospectus Regulation (EU) 2017/1129 (as amended) (the 'Qualified Investors'); (B) in the United Kingdom, Qualified Investors who are persons who (i) have professional experience in matters relating to investments and who fall within the definition of 'investment professionals' in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order'); or (ii) who are high net worth entities falling within Article 49 of the Order; or (iii) are persons to whom it may otherwise be lawfully communicated; and (C) other persons to whom it may otherwise lawfully be communicated, (all such persons together being referred to as 'Relevant Persons'). If you are not a Relevant Person, you will not be eligible to participate in the offering, and you should not act upon, or rely on, this announcement.

Any investment decision in connection with the transaction must be made on the basis of all publicly available information relating to SSAB and the shares issued by SSAB. Such information has not been independently verified by Morgan Stanley & Co. International plc or Carnegie Investment Bank AB. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in SSAB and the shares issued by SSAB.