Wilh. Wilhelmsen Holding achieves near-full ownership of Treasure, initiates compulsory acquisition

Wilh. Wilhelmsen Holding ASA (WWH) has completed its cash offer for Treasure ASA, which expired on December 4, 2025. The offer of NOK 39.50 per share garnered acceptances for 4,430,054 shares. This increased WWH's total holding to 203,370,250 shares, representing approximately 99.34% of Treasure ASA's outstanding shares and voting rights.

Following the offer's conclusion, WWH resolved on December 4, 2025, to proceed with a compulsory acquisition of all remaining shares in Treasure ASA, making WWH the sole owner. Thomas Wilhelmsen, chairman of Treasure ASA, and Christian Berg, a board member, are closely associated with WWH.

Notification forms indicate that Thomas Wilhelmsen's associated company, Wilh. Wilhelmsen Holding ASA, acquired 1,362,455 shares at NOK 39.50 per unit and another 1,352,413 shares at NOK 39.50 per unit on December 4, 2025. The aggregated acquisition totals 2,714,868 shares with a total value of NOK 107,237,286.00, executed outside a regulated marketplace. Christian Berg also participated in a similar transaction with Wilh. Wilhelmsen Holding ASA.