Suse, a software company, announced on Thursday that its majority shareholder is planning to delist the company from the Frankfurt Stock Exchange. The shareholder, Marcel, a holding company controlled by the EQT VIII fund, intends to take Suse private through a merger into an unlisted Luxembourg entity.
Currently, Marcel holds about 79% of the shares in Suse. In order to acquire the remaining shares, EQT Private Equity will launch a voluntary public purchase offer for €16 ($17.40) per share. This amount will be paid by Marcel.
The management and supervisory boards of Suse fully support the deal and have entered into a transaction framework agreement with Marcel. As part of the agreement, Suse will pay an interim dividend to its shareholders.
Notably, EQT Private Equity has no plans to squeeze out shareholders who wish to remain invested in Suse. The settlement of the offer is expected to take place in the first half of October 2023. Following this, an extraordinary general meeting will be held in the fourth quarter of 2023 to discuss the planned merger.
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