ABG Sundal Collier acted as financial advisor to XXL ASA in the evaluation of the NOK 875m mandatory offer to acquire all the shares not already owned by Frasers Group plc

On 29 January 2025, the extraordinary general meeting of XXL ASA (“XXL” or the “Company”) resolved a fully underwritten rights issue of 60,000,000 new shares (the “Rights Issue”). Frasers Group plc (“Frasers”) used its right to over-subscribe for shares in the Rights Issue and upon delivery of the shares, it crossed the 1/3 and 40% thresholds under the Norwegian Securities Trading Act, which triggered the obligation to make a mandatory offer for the remaining shares in the Company.
Further, on 14 April 2025, Frasers launched such a mandatory offer at NOK 10.0 per shares (the “Offer”) for all the shares not owned by Frasers. The Offer values the share capital of XXL to approximately NOK 875m.
ABG Sundal Collier acted as financial advisor to XXL and its Board of Directors (the “Board”) in evaluating the Offer.