Swedish Electromagnet Invest AB (publ) is divested to PHINIA and intends to redeem bond loan
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EQS-News: Swedish Electromagnet Invest AB (Publ)
/ Key word(s): Miscellaneous
Swedish Electromagnet Invest AB (publ) is divested to PHINIA and intends to redeem bond loan Procuritas and management shareholders have signed an agreement to divest Swedish Electromagnet Invest AB (publ) ("SEM") to PHINIA Inc ("PHINIA"), (NYSE:PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, and SEM announces intention to redeem its outstanding bond loan. Procuritas and management shareholders have today entered into a share purchase agreement regarding the divestment of all shares in SEM to PHINIA (the "Transaction"). The Transaction is subject to approval from the Inspectorate of Strategic Products, which is the relevant authority under the Swedish foreign direct investment (FDI) rules. The Transaction is expected to be completed during Q3 2025. SEM intends to redeem its outstanding bond loan 2018/2026 with ISIN SE0011167600 (the "Bonds") shortly after completion of the Transaction in accordance with the terms and conditions for the Bonds at the applicable call option amount plus accrued and unpaid interest. SEM will separately announce such redemption, conditional upon the successful completion of the Transaction, via press release and notice to the holders of the Bonds. Magnus Hellström, CEO of SEM comments: It is a great pleasure to announce that SEM, subject to FDI-approval, will become part of PHINIA. This is an important step for the future and an opportunity to create even greater value for our customers and the market as a whole. SEM complements PHINIA's already outstanding product portfolio and allows an even broader offer of innovative products and complete system solutions, while maintaining the high quality and service our customers are accustomed to. We are proud of the journey we have made so far and look forward to the future as part of PHINIA. For further information, please contact: Halvar Jonzon, Chairman of the board halvar.jonzon@telia.com +46 70 663 65 67 About this information This information is inside information that Swedish Electromagnet Invest AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CEST on 10 June 2025.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
10.06.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Swedish Electromagnet Invest AB (Publ) |
| Box 30 Amal | |
| 66200 Vastra Gotaland | |
| Sweden | |
| Phone: | +46 532 611 00 |
| Internet: | https://sem.se |
| ISIN: | SE0011167600 |
| Listed: | Regulated Unofficial Market in Frankfurt; Stockholm |
| EQS News ID: | 2153234 |
| End of News | EQS News Service |
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2153234 10.06.2025 CET/CEST
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