Alfa Laval announces a recommended public cash tender offer for all shares in Neles

Avance advises Swedish listed company Alfa Laval AB (publ) in its voluntary recommended public cash tender offer for all issued and outstanding shares in Neles Corporation. In the tender offer, Neles’ shareholders will be offered a cash consideration of EUR 11.50 for each issued and outstanding share in Neles, valuing Neles’ total equity at approximately EUR 1,727 million.

Neles is a global leader in flow control solutions and services. The company started trading as an independent company on 1 July 2020 following the partial demerger of Metso Corporation but the business has a long track record with a history of more than 60 years of innovation.

The transaction enables Alfa Laval to considerably strengthen its presence in the large industrial flow control space where the company currently offers mainly energy efficiency solutions.

The completion of the tender offer is subject to certain customary conditions being fulfilled or waived by Alfa Laval on or by the date of Alfa Laval’s announcement of the final result of the tender offer.