Dec 15 Swedish food retailer Axfood
said on Thursday it had made a 554 million crown ($59.6 million)
cash offer for Matse, owner of online grocery store
mat.se, as it adapts to shopping moving increasingly online.
* "The food retail market is currently in a phase of major
changes, where trade is becoming increasingly digital with an
increase in e-commerce," Axfood said in a statement. "The aim of
the acquisition of mat.se is to accelerate and develop our
* Axfood offers 17 SEK/share for Matse, offer value around
554 mln SEK
* Says price according to offer represents a premium of
around 43 pct vs closing price of 11.90 SEK/Matse share on Dec.
* Says owners with a combined 83.2 pct of shares and votes
in Matse have committed to accept offer
* Says is not dependent on external financing for the offer
and will finance the entire offer by cash available from own
* Matse 2015 net sales were 203 mln SEK, operating loss
(EBITA) 46 mln SEK
* Matse had said on Monday it had received a preliminary
bid, not identifying the bidder, after its shares soared and
trade in the stock was halted.
* Matse's shares jumped 43 pct on Thursday on the news of
Axfood's offer while Axfood's shares slightly underperformed the
wider market in Stockholm
* Planned acceptance period for the offer is Dec. 21-Jan.
23, expected settlement date Jan. 30
* Axfood's currently has e-commerce through its brands
Hemkop, Willys, Axfood Narlivs and Axfood Snabbgross
For the original story click here: bit.ly/2gDppMa
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($1 = 9.2908 Swedish crowns)
(Reporting by Anna Ringstrom)