Robur accepts Investor’s Gambro bid

Fund company Robur, one of Gambro’s largest owners, has agreed to accept a higher bid for the medical technology company from the Wallenberg family’s holding company Investor.

The decision follows an analysis of the bid and the market’s conditions for Gambro, Robur said in a press release. Investor intends to take Gambro, which specializes in kidney dialysis equipment, private.

“Our basic attitude is that the company should develop on the stock exchange,” said Mats Lagerqvist, Roburs’s chairman. “However, in our discussions with other owners we have made an assessment that there exists little support to push Gambro onward as listed company. We are happy that the owners were able to reach a higher bid.”

Investor were please with Roburs’s decision.

“It is clearly positive,” said Fredrik Lindgren, Investors spokesman.

Gambro’s stockholders have until next Wednesday to consider the offer.

“That the second largest owner of Gambro standing behind the deal is an important step on the way to our goal of having 90 percent of stockholders with us,” Lindgren said. “Of course we will await Wednesday’s results until we know exactly how it turns out.”

AMF Pension has also accepted the bid for Gambro.

The investment bank Credit Suisse has sold stock in Gambro, which is being bought by Investor and EQT, and now controls 4.5 percent of the capital and 4.4 percent of the votes at Gambro.

Investor and EQT raised the May 15 bid for Gambro 4 kronor to 113.70 kronor per share.


Sweden Investor group posts sharp profit drop

Swedish investment giant Investor on Wednesday said its first-quarter profits slumped by a quarter, underlining Sweden's vulnerability to international instability.

Sweden Investor group posts sharp profit drop
File photo: Simon Cunningham/Flickr
From January to March 2014 the group – one of the largest investors in Nordic-based multinationals including Saab, Atlas Copco and Ericsson —
reported a 25 percent drop in profits from a year earlier to 12.14 billion kronor ($1.85 billion).
However the group's net asset value, at 227,584 billion kronor grew by 5.6 percent compared to the previous quarter.
Founded over a century ago by the Wallenberg family, the Investor group is often seen as a barometer for the economic health of Sweden, given the large number of indigenous companies which are partly owned by the group.
Among its main investments are engineering company Atlas Copco (16.8 percent share), SEB bank (20.8 percent), the Swiss-Swedish engineering and
robotics firm ABB (8.1 percent) and the white goods group Electrolux (15.5 percent).
Group president Börje Ekholm said in a statement that current geopolitical uncertainty "will increase the uncertainty for our export companies".
The groups shares were down 0.7 percent in late afternoon trading on the Stockholm Stock Exchange in an overall market down 1.2 percent.