OEP Converts Notes and Plans Public Offer for Cicor Shareholders

On November 29, 2024, Cicor Group announced that its primary shareholder, OEP 80 B.V. (OEP), has converted its Mandatory Convertible Notes (MCN), securing 41.01% of Cicor's shares. This move mandates OEP to make a public takeover offer to other Cicor shareholders in accordance with Swiss takeover regulations.

OEP intends to propose the offer at or near the minimum price, fulfilling legal obligations upon surpassing the 33 1/3% voting rights threshold. The minimum price is based on the 60-day volume-weighted average price, currently CHF 54.35 per share. OEP has stated it does not seek complete control of Cicor, aiming instead to simplify Cicor's capital structure.

The Board of Directors plans to review the offer, and preliminarily recommends shareholders to reject it. However, a final decision will be reached after further evaluation.