Active Biotech has received an indicative bid for the property in Lund – the Board is positive

As previously reported, Active Biotech’s property Forskaren 1 in Lund has been on sale for a period of time. Active Biotech has now received an indicative, non-binding bid for the property, amounting to SEK 275 million from a newly formed investor collective led by the real estate company Estea AB (Estea). The bid corresponds to the property’s book value. Active Biotech’s Board is in favor of the bid.

The indicative bid is conditional to a successful due diligence process carried out by Estea. No sales agreement has been concluded, and it is not certain that such agreement will be reached, or what the terms for a possible sale of the property will be. Estea will carry out the due diligence process and secure financing during a maximum period of one month.

Active Biotech’s largest shareholder, MGA Holding AB (Mats Arnhög), has, on the request of Estea, declared its willingness to participate,  with a maximum of 40 percent, to be determined by Estea, of Estea’s equity financing. If an agreement with Estea, for the sale of the property is met, the Board’s intention is to call for an extraordinary general meeting to let the shareholders decide on the sale.

Read the press release here.