Sweden’s Svea Bank has offered 23.50 kronor in cash for each share of payments company Qliro, valuing the business at 805 million kronor. The offer is 85 per cent above the previous closing price. Existing cash will fund the purchase, while regulatory approvals and a planned winter acceptance period govern completion.
Sweden’s Svea Bank has offered 23.50 Swedish kronor in cash for each share of payments company Qliro. The public offer values all 34,244,073 shares at 805 million kronor. Against Qliro’s closing price of 12.70 kronor on 6 November, the consideration represents a premium of 85.04 per cent. The price is also above the preceding one-month and three-month volume-weighted averages, by 80.63 per cent and 56.98 per cent respectively.[1], [2]
Svea already holds 1,190,906 shares, equivalent to 3.48 per cent of Qliro. Separate conditional purchase agreements cover another 13,294,086 shares, or 38.82 per cent. If those transactions complete, the bank’s combined ownership reaches 14,484,992 shares and 42.30 per cent. The agreed price in the earlier transactions was 17.79 kronor per share, and the sellers are entitled to a top-up equal to the difference from the new offer price.[1]
The shares Svea neither owns nor has agreed to acquire number 19,759,081 and are valued at 464 million kronor under the offer. Existing cash fully funds the purchase, without a financing condition. The bank also undertakes to buy all shares tendered once the regulatory condition is satisfied or waived, irrespective of the aggregate acceptance level.[1]
Svea assesses that approvals are needed from Sweden’s financial supervisor, strategic products inspectorate and competition authority. It plans to publish an offer document on 18 December, open acceptance on 21 December and close it on 25 February 2027. Settlement is expected to begin on 4 March 2027. Parties to the previous share deals have termination rights if their condition remains unmet or unwaived by 30 April 2027.[1]
Above 90 per cent ownership, Svea intends to pursue compulsory acquisition of the remaining shares and delisting. Dividends or other transfers of value before settlement would reduce the consideration. Its current plans envisage no material changes to Qliro’s employment, management or operating locations.[1]
