We are pleased to announce that we, Altor Fund Manager AB (“Altor”), on August 16th 2023 have indirectly acquired a further 2.2 million shares in FLSmidth & Co. A/S (“FLSmidth”), corresponding to 3.8% of the shares outstanding. Combined with existing holdings, Altor now owns 14.9% of the outstanding shares and voting rights of FLSmidth.
“Since our initial investment in FLSmidth earlier this year, our positive view on the company has only been strengthened. We remain excited about the strategic direction of the company and the attractive long-term, green transition demand drivers supporting it, and we are impressed by the capable management team and their ability to execute on the strategic plans. The company is a great match for us, we share the same beliefs in what can and needs to be done in terms of decarbonization – an area in which we are active across many industries.” says Daniel Reimann, Principal at Altor.
Altor controls, through Altor Fund V (No.1) AB and Altor Fund V (No. 2) AB, the subsidiary, Altor Invest 7 AS, who is the direct holder of shares in FLSmidth.
The purchase has not included an offer, whether directly or indirectly, in the United States, Canada, Japan, South Africa, Hong Kong or Australia, unless otherwise indicated, or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdictions would be prohibited by applicable law. This announcement is intended for the sole purpose of providing information. Persons needing advice should consult an independent financial adviser. This announcement does not constitute an investment recommendation.