SKF continues the preparations for the separation of its Automotive business; initiates consent solicitation
SKF (SKFRY) has announced further steps in its planned separation of its Automotive business, which was initially revealed in September 2024. The company is now initiating a consent solicitation to its noteholders regarding the planned spin-off, offering a 0.25% early voting fee for favorable votes before the deadline.
The separation aims to create a separate listing on Nasdaq Stockholm through a Lex Asea distribution to shareholders. SKF emphasizes that this strategic move would enable clearer focus on distinct opportunities, enhance customer value, and accelerate growth. The company maintains that the spin-off is not expected to negatively impact its strategy, operations, or financial conditions, and its financial structure will remain solid.
SKF (SKFRY) ha annunciato ulteriori passi nella sua pianificata separazione della divisione Automotive, inizialmente rivelata a settembre 2024. L'azienda sta ora avviando una richiesta di consenso ai propri obbligazionisti riguardo al previsto spin-off, offrendo una commissione di voto anticipato dello 0,25% per i voti favorevoli prima della scadenza.
La separazione mira a creare un elenco separato su Nasdaq Stoccolma attraverso una distribuzione Lex Asea agli azionisti. SKF sottolinea che questa mossa strategica consentirebbe un focus più chiaro su opportunità distinte, migliorerebbe il valore per i clienti e accelererebbe la crescita. L'azienda sostiene che lo spin-off non dovrebbe avere un impatto negativo sulla sua strategia, operazioni o condizioni finanziarie, e la sua struttura finanziaria rimarrà solida.
SKF (SKFRY) ha anunciado nuevos pasos en su separación planificada del negocio de Automoción, que se reveló inicialmente en septiembre de 2024. La empresa está ahora iniciando una solicitud de consentimiento a sus tenedores de notas sobre el spin-off planificado, ofreciendo una tarifa de votación anticipada del 0,25% por votos favorables antes de la fecha límite.
La separación tiene como objetivo crear una cotización separada en Nasdaq Estocolmo a través de una distribución Lex Asea a los accionistas. SKF enfatiza que este movimiento estratégico permitiría un enfoque más claro en oportunidades distintas, mejoraría el valor para el cliente y aceleraría el crecimiento. La compañía sostiene que se espera que el spin-off no tenga un impacto negativo en su estrategia, operaciones o condiciones financieras, y que su estructura financiera seguirá siendo sólida.
SKF (SKFRY)는 2024년 9월에 처음 발표된 자동차 사업 부문의 계획된 분리에 대한 추가 단계를 발표했습니다. 회사는 지금으로부터 만기 전에 유리한 투표를 위한 0.25%의 조기 투표 수수료를 제공하는 권리 증명서에 대한 동의 요청을 시작하고 있습니다.
이번 분리는 주주에게 Lex Asea 배포를 통해 Nasdaq 스톡홀름에 별도의 상장을 생성하는 것을 목표로 합니다. SKF는 이 전략적 조치가 뚜렷한 기회에 대한 명확한 집중을 가능하게 하고 고객 가치를 향상시키며 성장을 가속화할 것이라고 강조합니다. 회사는 이번 분리가 전략, 운영 또는 재무 조건에 부정적인 영향을 미치지 않을 것으로 예상하며, 재무 구조는 탄탄할 것이라 주장합니다.
SKF (SKFRY) a annoncé de nouvelles étapes dans sa séparation prévue de son activité automobile, qui a été révélée pour la première fois en septembre 2024. L'entreprise initie maintenant une demande de consentement auprès de ses obligataires concernant le spin-off prévu, offrant des frais de vote anticipé de 0,25 % pour les votes favorables avant la date limite.
La séparation vise à créer une cotation distincte sur le Nasdaq Stockholm par le biais d'une distribution Lex Asea aux actionnaires. SKF souligne que ce mouvement stratégique permettrait une concentration plus claire sur des opportunités distinctes, améliorerait la valeur client et accélérerait la croissance. L'entreprise maintient que le spin-off ne devrait pas avoir d'impact négatif sur sa stratégie, ses opérations ou ses conditions financières, et que sa structure financière restera solide.
SKF (SKFRY) hat weitere Schritte zur geplanten Trennung seines Automobilgeschäfts angekündigt, die im September 2024 zunächst bekannt gegeben wurde. Das Unternehmen leitet nun eine Zustimmungseinholung bei seinen Anleihegläubigern bezüglich des geplanten Spin-offs ein und bietet eine Vorabstimmungsgebühr von 0,25 % für positive Stimmen vor Fristablauf.
Die Trennung zielt darauf ab, eine eigenständige Notierung an der Nasdaq Stockholm durch eine Lex Asea-Verteilung an die Aktionäre zu schaffen. SKF betont, dass dieser strategische Schritt eine klarere Fokussierung auf verschiedene Möglichkeiten ermöglichen, den Kundenwert erhöhen und das Wachstum beschleunigen würde. Das Unternehmen ist überzeugt, dass sich die Abspaltung nicht negativ auf seine Strategie, den Betrieb oder die finanziellen Rahmenbedingungen auswirken wird und dass die finanzielle Struktur solide bleibt.
- Planned spin-off aims to enhance customer value and accelerate growth
- Company maintains strong financial structure post-separation
- 0.25% early voting fee incentive offered to noteholders
- None.
As the separation process continues, SKF now launches a consent solicitation to holders of its notes, in relation to the contemplated spin-off and to confirm that it will not cause an event of default under the conditions of the notes.
SKF is seeking the consent as a matter of prudence and in order to avoid any potential uncertainty in the future. SKF does not consider that there has been an event of default under any series of the notes.
As previously communicated, SKF considers that the contemplated spin-off of its automotive business would facilitate a clearer focus on distinct opportunities to enhance customer value, accelerate growth, improve competitiveness as well as providing long-term value benefiting customers, employees and other stakeholders.
SKF does not expect the contemplated spin-off to have any negative impact on its strategy, operational or financial conditions of SKF. This implies that the contemplated spin-off would not impact the solvency of SKF and its financial structure would remain solid.
As further described in the announcement, SKF is offering a
For further information, please see the announcement in respect of the consent solicitation which will be published here: https://www.luxse.com/market-overview/market-news.
Aktiebolaget SKF
(publ)
Information in this press release contains information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 7 February 2025 at 08:00 CET.
DISCLAIMER
Neither the Consent Solicitation Memorandum, the announcement, nor this press release constitutes an invitation to participate in the consent solicitation in any jurisdiction in which, or to any person to whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws or regulations. The distribution of the Consent Solicitation Memorandum, the announcement and this press release in certain jurisdictions may be restricted by laws or regulations.
Persons into whose possession the Consent Solicitation Memorandum, the announcement and this press release comes are required by each of Aktiebolaget SKF (publ), the Solicitation Agents, the Fiscal Agents, and the Information and Tabulation Agent to inform themselves about, and to observe, any such restrictions. None of Aktiebolaget SKF (publ), the Solicitation Agents, the Fiscal Agents or the Information and Tabulation Agent will incur any liability for its own failure or the failure of any other person or persons to comply with the provisions of any such restrictions.
Neither the Consent Solicitation Memorandum, the announcement, nor this press release is an offer of securities for sale in
In addition, the communication of the Consent Solicitation Memorandum, this press release and any other documents or materials relating to the Proposal is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 ("FSMA"). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the
For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com
Group Treasurer: Elisabeth Mosséen,
tel: +46 31-337 6431; mobile: +46 722 156 431; e-mail: elisabeth.mosseen@skf.com
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SOURCE SKF
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