Capio's shareholders have been offered to sell their shares to Opica for the consideration of SEK 153 per share in Capio.
The Board of Directors unanimously recommends Capio shareholders not to accept the offer. Attached is the statement from the Board of Directors and an opinion from Morgan Stanley regarding the fairness of the offer price.
"The Board and the Management are committed to continue to develop the business opportunities available to the company with the aim of maximising long term shareholder value. Given this commitment the Board will of course also consider serious expressions of interest to the extent they are aligned with shareholder's best interests.", says Krister Hertzen, chairman of the Bid Evaluation Committee
The Board believes that Capio's business fundamentals are very strong and that there are significant opportunities to grow Capio's operations, building on its existing leading market positions and pan-European platform. Furthermore, the Board believes that Capio's continuously ongoing and planned measures will improve operational performance and hence Capio's profitability.
As announced to shareholders in the 2005 annual report, Capio is currently reviewing the structure of certain hospital properties. A project is underway to assess how the inherent value of its real estate portfolio may be utilised. The Board believes that a refinancing of Capio's real estate portfolio should bring additional transparency to the underlying value of the portfolio and enable a release of capital.
Due to conflicts of interest Roger Holtback, the Chairman of Capio, has not participated in the Board of Directors' deliberations and decisions regarding this recommendation.
Gothenburg, September 19, 2006 Capio AB (publ)
The Board of Directors
Capio contact: Ulrika Stenson, SVP Corporate Communications, Capio AB +46 31 732 40 04, +46 705 900 723
Capio Group is one of the leading providers of healthcare services in Europe and operates in Sweden, Norway, Denmark, Finland, the UK, Germany, France, Spain and Portugal. The Capio Group has annual net revenues of approximately SEK 13,000 M (EUR 1,400 M), with some 15,000 employees.
Attachment - Press release - Statement of the Board of Directors of Capio AB in relation to the public offer from Opica - Morgan Stanley's opinion
Viðskiptablaðið er 25 ára og af því tilefni býðst nýjum áskrifendum að kaupa áskrift á 50% afslætti.
Afmælisverðið er aðeins 2.500 krónur.
Tilboðið er fyrir nýja áskrifendur. Núverandi áskrifendur geta bætt við sig áskrift á þessu verði. Gildir í 4 mánuði. Áskrifendur fá Viðskiptablaðið, Frjálsa verslun og Fiskifréttir sent ásamt vefaðgangi að vb.is og fiskifrettir.is