Capio today announces the notice of the Extraordinary General Meeting (the “EGM”) convened to resolve on the Board’s proposal to approve the sale of Capio France. The EGM will be held at 4.00 p.m. CEST on 18 October 2018. Capio also announces information on the use of proceeds from the sale of Capio France, should the EGM approve the transaction.
The proceeds from the transaction will be used partly to pay down Capio Group debt and partly as a return of cash to shareholders. The return of cash to shareholders is expected to be between BSEK 1.8-2.1, equating to SEK 13-15 on a current per share basis.* This represents an attractive cash return whilst ensuring an efficient capital structure for Capio. Capio will have ample headroom for further investments, driving digitalization, specialization and competence development in the Nordics for the benefit of patients, employees and the healthcare systems at large. Capio will also continue to consolidate the fragmented Nordic markets.
An Extraordinary General Meeting will be convened after closing of the transaction to approve an exact amount and the proposed route to effect the cash distribution. Closing of the transaction is expected to occur on 31 December 2018.
For further information on the Board’s proposal to approve the transaction and the reduction of Capio Group’s debt including the above mentioned cash return to shareholders, please refer to the notice to the EGM, which will be communicated through a separate announcement.
PJT Partners is acting as exclusive financial adviser, Mannheimer Swartling and Allen & Overy are acting as legal advisers and Fogel & Partners as communication adviser to Capio on this transaction.
The Board of Directors of Capio AB (publ)
*Assumes 141,159,661 outstanding shares. Proceeds from the sale of France are converted at a EUR/SEK rate of 10.4213, as per the currency rate used in Capio’s Interim Report January – June 2018. Potential transaction costs have been excluded.
Henrik Brehmer, SVP Group Communication & Public Affairs
Telephone: +46 761 11 34 14, E-mail: email@example.com
Capio AB (publ) is a leading, pan-European healthcare provider offering a broad range of high quality medical, surgical and psychiatric healthcare services through its hospitals, specialist clinics and primary care units. Capio operates in five countries; Sweden, Norway, Denmark, France and Germany. In 2017, Capio’s 13,314 employees (average full-time equivalents) provided healthcare services during 5.1 million patient visits across the Group’s facilities, generating net sales of MSEK 15,327. Capio operates across three geographic segments: Nordic (57% of Group net sales 2017), France (35% of Group net sales 2017) and Germany (8% of Group net sales 2017). For more information about Capio, please see www.capio.com.