Press

On 5 June 2024, Greenoaks Capital Partners and Long Path Partners (the “Bid Consortium”) announced, through Forseti III AB (“BidCo”), that their public offer (the “Offer”) to the shareholders of Karnov Group AB (publ) (“Karnov Group”) had only been accepted by shareholders representing 25.7 per cent of all shares in Karnov Group and that the acceptance period was extended to 14 June 2024. Today on 17 June 2024, BidCo announced that the Offer had only been accepted by shareholders representing 26.2 per cent of all shares in Karnov Group by the end of the extended acceptance period, and that BidCo has decided to withdraw the Offer by invoking the completion condition stipulating that completion of the Offer was conditional upon the Offer being accepted to such extent that BidCo would become the owner more than 90 per cent of all shares in Karnov Group.

Karnov Group AB (publ) has today, through its fully owned subsidiary Karnov Group Denmark A/S, entered into a business carve out agreement to acquire legal information business of J.H. Schultz Information A/S (“Schultz LIS”) for a cash consideration of up to SEK 478 million.[1] The acquisition provides Karnov Group new customers on the Danish municipality market and strengthens Karnov’s portfolio of local content to develop best-in-class generative AI solutions for customers. The transaction is expected to close on the 19th of June 2024.