The offer represents an enterprise value in the range 193m to 197m Norwegian kroner ($22.7m to $23.1m), on a debt- and cash-free basis.
The enterprise value range depends on reaching certain operational targets. The total purchase price of the offer, payable in cash at a potential closing of a transaction, is in the range of approximately 166m to 173m kroner ($19.5m to $20.3m).
Scanship manufactures systems for advanced wastewater purification, garbage handling with incineration, food waste processing and bio residue treatment with dewatering and drying.
Last November parent company Scanship Holding announced it had initiated a process to evaluate strategic alternatives with the purpose of enhancing shareholder value. After exploring various opportunities and receiving interest from several parties, both industrial and financial investors, to acquire all or parts of the company, the board has decided to pursue exclusive
negotiations based on a binding offer to buy all outstanding shares in Scanship AS and its subsidiaries in the US and Poland.
The offer is conditional on a satisfactory share purchase agreement and the approval of Scanship Holding shareholders and the board of the bidder.