Swedish renewables developer OX2 AB, currently being acquired by private equity firm EQT AB, has applied for delisting from Nasdaq Stockholm, following a request from the buyer. EQT is preparing a compulsory buy-out of the remaining OX2 shares it has not yet secured.
The company announced that the last trading date on Nasdaq Stockholm will be disclosed once it receives confirmation from the exchange.
EQT's Infrastructure VI fund, through Otello BidCo AB, proposed in May to buy all OX2 shares for SEK 60 apiece, amounting to a total acquisition cost of SEK 16.35 billion (USD 1.61 billion/EUR 1.44 billion).
As of September 24, EQT had secured 95.58% of OX2's stock, with the deal set to close on October 2. After the settlement, the remaining shares will be acquired through a compulsory buy-out, leading to OX2's delisting.
At the end of June, OX2 had a portfolio of 47,375 MW, alongside an additional 33,073 MW of projects under development.
