Special Representative Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Sponda Plc
THIS RELEASE MAY NOT BE RELEASED, PUBLISHED OR OTHERWISE DISTRIBUTED, IN WHOLE OR IN PART, IN OR INTO, DIRECTLY OR INDIRECTLY, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.
Sponda Plc
Stock Exchange Release
September 20, 2017 at 15:40
Special Representative Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Sponda Plc
Polar Bidco S.à r.l. (“Polar Bidco“), a corporation owned by funds advised by affiliates of The Blackstone Group L.P., has on July 26, 2017 commenced redemption proceedings in respect of Sponda Plc’s (“Sponda“) minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the shares in Sponda.
As a result of Polar Bidco’s application for the above-mentioned arbitration proceedings, the Redemption Committee of the Finland Chamber of Commerce has petitioned the Helsinki District Court for the appointment of a special representative to look after the interests of Sponda’s minority shareholders during the redemption process. With its decision given on September 15, 2017, the District Court of Helsinki has appointed M.Sc. (Econ.) Tiina Lind to act as such special representative.
Polar Bidco’s notice, as referred to in Chapter 18, Section 5, Subsection 2 of the Finnish Companies Act, is attached to this release.
Sponda Plc
Sponda in brief:
Sponda is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centers into environments that promote the business success of its clients. As at June 30, 2017, the fair value of Sponda’s investment properties was approximately EUR 3.8 billion and the leasable area was approximately 1.2 million square meters.
Release attachment: