Klövern’s Annual Report 2011 and acquisition analysis of Dagon


Klövern AB’s Annual Report 2011 in Swedish is now available for downloading from Klövern’s website, klovern.se. The Annual Report includes an acquisition analysis of Dagon AB (publ).

The printed version of the Annual Report in Swedish will be available from week 13 and can be ordered on Klövern’s website. The Annual Report in English will be available on the website during week 13 and the printed version in week 15.

On 2 March, Klövern’s Board decided to complete the offer for Dagon, and at the same time extended the acceptance period until 2 April. The preliminary acquisition analysis is based on the shareholders who have accepted the offer as well as assuming that the remaining shareholders will decide to accept the offer with the distribution 30 per cent in cash and 70 per cent in preference shares. The value of the consideration to the shareholders who have accepted the offer amounts to SEK 455 million in cash and SEK 1,039 million in preference shares, based on the closing share price on 2 March. The total value of the offer for Dagon with 100 per cent acceptance amounts to SEK 1,510 million, which has been used in the calculation below.

Klövern considers that all assets and liabilities in the preliminary acquisition analysis have been listed at their fair value. Klövern is not aware of any contingent liabilities or contingent assets in Dagon. The acquisition-related transaction costs are estimated at SEK 8 million, of which SEK 1.5 million have been expensed as central administration during 2011. The issuance costs for the preference share are estimated at SEK 2 million and will be reported against equity.

The acquisition is reported as a business combination, which means full deferred tax and goodwill. When preparing this report, Klövern did not have access to detailed information about Dagon. The estimates are based on Dagon’s year-end report as at 31 December 2011 and are thus preliminary pending the business acquisition report.

Nyköping, 12 March 2012

Klövern AB (publ)

For further information, please contact:
Rutger Arnhult, CEO, +46 72-301 53 31, rutger.arnhult@klovern.se
Britt-Marie Einar, Finance and IR Manager, Deputy CEO, +46 155-44 33 12/+46 70-224 29 35, britt-marie.einar@klovern.se

Klövern is a real estate company committed to working closely with customers to meet their needs of premises and services in Swedish growth regions. Klövern has business units in ten cities: Borås, Karlstad, Kista, Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås and Örebro. As at 31 December 2011 the value of the properties totalled approximately SEK 14.9 billion and the rental income on an annual basis was around SEK 1.6 billion. The Klövern share is listed on NASDAQ OMX Stockholm Mid Cap.

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46 155-44 33 00, Fax +46 155-44 33 22. Corporate registration no. 556482-5833. Registered office: Nyköping. Website: kelly.corem.se, info@klovern.se

This information is such that Klövern AB (publ) is obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was made available for publication on 12 March 2012.

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