ASSA ABLOY announces public offer for Cardo AB
ASSA ABLOY has made a public cash offer to shareholders of Cardo AB. The offer values the shares in Cardo to approximately SEK 11.3 billion. The transaction is subject to approval by the relevant competition authorities.
Cardo is a leading global supplier of industrial doors and logistics systems, wastewater treatment systems, process equipment for the pulp and paper industries, and a manufacturer of garage doors. The company has a turnover of approximately SEK 9 billion and approximately 5,400 employees worldwide. Cardo is listed on NASDAQ OMX Stockholm.
ASSA ABLOY is the leader in door opening solutions with focus on security, safety and convenience. ASSA ABLOY is represented worldwide with a strong position in most of Europe, North America and Asia. ASSA ABLOY is an international group with approximately 37, 000 employees, a turnover of approximately SEK 35 billion, and is listed on NASDAQ OMX Stockholm.
Mannheimer Swartling is advising Cardo's board in connection with the offer. The firm’s team includes Johan Lekholm, Patrik Marcelius and Jenny Keisu. Stefan Perván Lindeborg and Jens Agö from the firm’s Brussels office are advising on competition law issues.