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2000-07-3

Industri Kapital increases the offer for Perstorp’s Series B shares and extends the acceptance period

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Industri Kapital increases the offer for Perstorp’s Series B shares
Major shareholders positive to the offer

Extended acceptance period due to EU’s in-depth investigation

Industri Kapital increases the offer for Perstorp’s Series B shares with SEK 3 to SEK 124 per share. Major institutional owners are positive and intend to accept the offer. At the same time the EU Commission has announced that it will perform an in-depth investigation of Industri Kapital’s planned acquisition of Perstorp. For the time being the acceptance period is therefore extended up to and including September 29, 2000.



Increased offer for Perstorp’s Series B shares
Industri Kapital has, through the Board of Directors of the acquisition vehicle Perstorp Intressenter AB, decided to increase the offer for Perstorp’s Series B shares with SEK 3 to SEK 124 per share (corresponding to a total amount of SEK 128 per Series B share including earlier received dividend of SEK 4). The offer to holders of convertible debentures is increased correspondingly, i.e. by SEK 3 to SEK 128.

The offer for Perstorp’s Series A shares remains at SEK 136 per share (corresponding to a total amount of SEK 140 per Series A share including earlier received dividend of
SEK 4).


Major shareholders positive to the offer
As a consequence of the increased offer, Nordbanken’s Mutual Funds, the Fourth AP Fund and SEB’s Funds are positive and have the intention to accept Industri Kapital’s offer. These shareholders together represent 20.7% of the capital and 11.2% of the votes in Perstorp including convertibles.

This means that shareholders and holders of convertible debentures representing 65.3% of the capital and 61.8% of the votes in Perstorp have already accepted or are positive to Industri Kapital’s offer.

– It is satisfying that the major shareholders of Perstorp are positive and have the intention to accept the offer, reducing the uncertainty for Perstorp’s Board of Directors, management, employees and owners, says Harald Mix, Deputy CEO of Industri Kapital.


Extended acceptance period due to EU’s in-depth investigation

The EU Commission has announced that it will carry out an in-depth investigation of Industri Kapital’s planned acquisition of Perstorp. The EU Commission has now up to four months to make a final decision, i.e. until the beginning of November this year.

In light of the EU Commission’s decision Industri Kapital, through the Board of Directors of the acquisition vehicle Perstorp Intressenter AB, has for the time being decided to extend the acceptance period for the offer to shareholders and holders of convertible debentures in Perstorp from July 7, 2000 up to and including September 29, 2000.

– It is not unusual that acquisitions creating companies with strong market positions are subject to in-depth EU investigations, says Harald Mix. We will continue to co-operate with the EU Commission to obtain an approval of the acquisition.



Stockholm, July 3, 2000
Perstorp Intressenter AB
Board of Directors



For further information, please contact:
Harald Mix, Deputy CEO Industri Kapital, +46 8 678 95 00
www.industrikapital.com

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