Dorothy Holding AB, a fully owned subsidiary to FSN Capital III, has undertaken to sell its interest in Vizrt, the global leader in real time broadcast graphics software, to funds managed by Nordic Capital by way of a public cash merger. Completion of the transaction, which is subject to certain conditions, is expected to take place on or around January 31st 2015
Vizrt is a public company traded on the Oslo Stock Exchange. With 15.8% of the shares outstanding, Dorothy Holding is Vizrt’s largest shareholder, and has been so since 2008.
Vizrt today announced that it has entered into a merger agreement pursuant to which funds managed by Nordic Capital will pay a cash consideration of NOK 37 per Vizrt share for 100% of the issued share capital by way of an Israeli cash merger. This represents a premium of 32% to the latest traded share price and a premium of 35% to the six month volume weighted average share price of Vizrt. The transaction values Vizrt’s total share capital at $374m. The Board of Directors of Vizrt has unanimously decided to recommend, and shareholders representing 51.5% of the share capital have agreed to vote in favour of, the transaction.
For further details on the transaction, please go to vizrt.com.