Eyrir Invest increases financial flexibility

20. February 2017

Eyrir Invest has sold 15 million shares in Marel hf. in a transaction which increases Eyrir's operational flexibility and strengthens Marel's shareholder base. Eyrir was approached by Landsbankinn Capital Markets with an offer on behalf of MSD Partners, L.P. which will acquire the shares at a price of ISK 285 per share.

MSD Partners will become Marel's 7th largest shareholder following the transaction.

Eyrir Invest remains Marel’s principal shareholder by holding 200 million shares, corresponding to 27.2% of issued shares.

Eyrir Invest is a long-term investor and has been Marel’s principal shareholder since 2005. Marel has been successfully executing its long-term growth strategy and the recent acquisition of MPS has been a great success. Eyrir remains a strong believer in Marel’s growth potential going forward and its ability to continue to deliver impressive operational performance. Eyrir intends to remain the principal shareholder of Marel.

Following the transaction, the Board of Directors of Eyrir Invest has authorized management to make a cash offer for all outstanding B-shares in Eyrir Invest.

Eyrir Invests financial position is strong. Eyrir Invest is a long term strategic investor with the strategy of supporting global industrial companies and venture investments for growth.

MSD Partners, L.P., an SEC-registered investment adviser, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family.

 

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