British consortium led by Bridgepoint places takeover offer of $1bn for Sweden’s Cherry

By Bruno Reis

A British consortium, led by the private equity firm Bridgepoint, has placed a takeover bid to acquire Sweden’s Cherry AB.

The takeover bid of SEK9.19bn (US$1bn) offers Cherry SEK87 ($9.63) per share in cash.

The consortium includes Bridgepoint Europe VI Fund, Prunus Avium Ltd, Klein Group AS, Audere Est Facere AS, Pontus Lindwall, Berkay Reyhan, and Can Yilanlioglu.

In a statement released by Cherry, the firm’s independent committee states its recommendation that shareholders accept the offer.


“The Independent Bid Committee of Cherry AB […] recommends the shareholders to accept the public offer of SEK 87 in cash per share”.

“In its evaluation of the Offer, the Independent Bid Committee has taken a number of factors into account which they deem relevant, including, but not limited to, the Company’s present strategic and financial position, prevailing market conditions and the Company’s expected future development as well as opportunities and risks related thereto.”

Financing for the bid has been sourced by equity provided by members of the consortium, as well as debt financing from Ares Management Limited.

The offer’s acceptance period is expected to open on 20 December and close around 23 January next year.


Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM