On Friday, 14 July 2023, the Board of Kahoot! ASA (“Kahoot!”) announced an agreement whereby the Private Equity business within Goldman Sachs Asset Management (“GSAM”), with co-investors General Atlantic FT B.V. (“General Atlantic”), KIRKBI Invest A/S (“KIRKBI”), Glitrafjord AS and certain other investors and management shareholders (the “Co-Investors”, together with GSAM “the Investors”) intend to put forward a voluntary cash offer (the “Offer”) to acquire 100% of the shares in Kahoot! at an offer price of NOK 35.0 per share (the “Offer Price”). The Offer Price represents a 53.1% premium to the closing price on the Oslo Stock Exchange on 22nd May 2023 of NOK 22.86, being the last trading day prior to the day when the shareholding positions of certain Co-Investors were publicly disclosed (such disclosures having been made as part of the 2023 AGM voting process); a 33.3% premium to the 3-month volume weighted average price of NOK 26.26 of the Shares as of 13th July 2023; and a 62.1% premium to the 6-month volume weighted average price of NOK 21.59 of the Shares as of 13th July 2023.
Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over USD 75 billion since its inception. GSAM combines its global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation. Together with Eilert Hanoa and the Co-Investors, Goldman Sachs Asset Management believes that Kahoot! will benefit from operating as a private company in the years ahead as it seeks to invest in continued innovation and the next generation of product offerings. The Investors intend to support Kahoot! in developing its current business and its continued growth journey, both organically and through acquisitions.
This is the eighth time ABG Sundal Collier acts as an advisor to Kahoot! since 2017, including acting as sole advisor in relation to the listing of Kahoot! on Merkur Market (currently known as Euronext Growth) in 2019.

Published: 16 Jul, 2023