EQT VII [1] (”EQT”), through IGT Holding IV AB [2] (”IGT Holding”), on 7 December 2015 announced a mandatory cash offer to the shareholders in Industrial and Financial Systems, IFS Aktiebolag (publ) (”IFS”) to acquire all outstanding A- and B-shares in IFS at a price of SEK 362.50 per share. The offer was completed on 11 February 2016 at which time IGT Holding had reached an ownership of approximately 84 percent of all shares in IFS.

IGT Holding has now entered into an agreement with Elliott International L.P. and Elliott Associates L.P. (together “Elliott”) to acquire all Elliott’s shares in IFS. IGT Holding will thereby reach an ownership of approximately 97 percent of all shares in IFS. The acquisition of the shares from Elliott is made at a price of SEK 396.73 per share, regardless of share class.

Since IGT Holding holds shares representing more than 90 percent of the total number of shares in IFS, IGT Holding intends to commence compulsory squeeze out proceedings under the Swedish Companies Act to acquire all remaining shares in IFS. Relevant announcements regarding the squeeze out proceedings will be made by IFS when the squeeze out has been formally initiated by IGT Holding. In connection therewith, IGT Holding also intends to promote delisting of IFS’s shares from Nasdaq Stockholm.

Contact:
Kerstin Danasten, press officer, EQT: +46 8 506 553 34, press@eqtpartners.com

About EQT
EQT is a leading global private equity group with approximately EUR 30 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com