Loxam in Ramirent €970 Million Tender Offer

July 23, 2019

Cleary Gottlieb represented Loxam in its tender offer on the listed shares of Ramirent.

The tender offer was announced on June 10, 2019, for a price of €9 per share, which represents an equity valuation of approximately €970 million. On July 23, 2019, Loxam announced the final results of the offer according to which 96.25% of the shares have been tendered to the offer.

Prior to the announcement of the offer, Loxam and Ramirent entered into a combination agreement pursuant to which Ramirent’s board of directors recommended the tender offer. The support of the two main shareholders, Nordstjernan and Julius Tallberg, and of the CEO and CFO of Ramirent was also secured through the conclusion of irrevocable commitments to tender their shares to the offer.

Loxam is the leading European equipment rental company. Ramirent is one of the leading companies in equipment rental in the Nordics and Eastern Europe.