Thon Gruppen launches cash offer to privatize Olav Thon Eiendomsselskap

Thon Gruppen AS, owned by Olav Thon Stiftelsen (OTS), has announced a voluntary cash tender offer to acquire all outstanding shares of Olav Thon Eiendomsselskap ASA (OLT). The offer price is NOK 335 per share, valuing the company at approximately NOK 34 billion. This represents a 23% premium to OLT's closing price on November 11, 2025.

Thon Gruppen and its sister company already own 75.4% of OLT shares. Additionally, shareholders representing approximately 6.7% of shares have provided irrevocable pre-acceptances for the offer. The Offeror aims to achieve more than 90% ownership for compulsory acquisition and intends to propose a delisting of OLT from Euronext Oslo Børs if the offer completes.

The offer is not subject to a financing condition and is expected to be completed during the fourth quarter of 2025, pending regulatory approvals, minimum acceptance, and other customary conditions.