Greenoaks Capital Partners LLC and Long Path Partners, LP made an offer to acquire remaining 79.7% shares in Karnov Group AB (publ) (OM:KAR) from Carnegie Fonder AB, Invesco Ltd. (NYSE:IVZ), Swedbank Robur Fonder AB, Cervantes Capital AB, Columbia Threadneedle (EM) Investments Limited and others for SEK 7.2 billion on May 2, 2024. Offer price per share is SEK 84. Offer period expected to commence on May 7, 2024 and ends on June 4, 2024.Greenoaks already holds 7,316,116 shares in Karnov and Long Path already holds 14,589,280 shares in Karnov. Carnegie Fonder, Invesco and Swedbank Robur Fonder holding aggregate 22% stake have irrevocably undertaken to accept the Offer. Cervantes Capital and Columbia Threadneedle, holding in aggregate 4.9% of the outstanding shares in Karnov, have expressed their support for the Offer and intention to accept the Offer. Karnov Group board unanimously recommends shareholders to accept the public offer from Greenoaks and Long Path. The transaction is subject to receipt of regulatory and competition authority approvals. As of the acceptance period ended on June 4, 2024, the shares in Karnov tendered in the Offer at the end of the acceptance period, together with the 21,905,396 ordinary shares and votes in Karnov already held by BidCo and its closely related parties, amount to 49,602,486 ordinary shares and votes in the aggregate, corresponding to approximately 46% of the share capital and votes in Karnov. The Offerors assessment is that receipt of competition clearance from the Spanish National Markets and Competition Commission will require additional time and has thus decided to extend the acceptance period for the Offer up to and including June 14, 2024. The Offeror, in connection with the Offer or otherwise, acquires shares representing more than 90% of the total number of outstanding shares in Karnov, BidCo intends to commence compulsory redemption proceedings under the Swedish Companies Act to acquire all remaining shares in Karnov and to promote delisting of Karnov's ordinary shares from Nasdaq Stockholm.

Grant Thornton Sweden AB, Investment Banking Arm acted as fairness opinion provider to Karnov. Nordea Bank Abp, Filial I Sverige acted as financial advisor to Greenoaks and Long Path Partners. JPMorgan Asset Management (Nordic) acted as financial advisor and Pontus Enquist, Kristian Hugmark, Veronica Stiller, Björn Johansson Heigis, Susanne Mellqvist, Jessica Karlsson and Harem Mahir of Roschier Advokatbyrå Ab acted as legal advisor to Greenoaks. Roschier Advokatbyrå Ab, Kirkland & Ellis LLP and Mattias Friberg, Ola Åhman and Khaled Talayhan of Hannes Snellman Attorneys Ltd acted as legal advisor to Long Path Partners. Kirkland & Ellis LLP acted as legal advisor to Greenoaks Capital Partners LLC. Carnegie Investment Bank AB (publ) acted as financial advisor and Gernandt & Danielsson Advokatbyrå KB acted as legal advisor to Karnov.

Greenoaks Capital Partners LLC and Long Path Partners, LP cancelled the acquisition of remaining 79.7% shares in Karnov Group AB (publ) (OM:KAR) from Carnegie Fonder AB, Invesco Ltd. (NYSE:IVZ), Swedbank Robur Fonder AB, Cervantes Capital AB, Columbia Threadneedle (EM) Investments Limited and others on June 17, 2024. As of June 5, 2024, the shareholders of Karnov Group AB (publ) (?Karnov Group?) had only been accepted by shareholders representing 25.7 per cent of all shares in Karnov Group and that the acceptance period was extended to June 14, 2024. As of June 17, 2024, BidCo announced that the Offer had only been accepted by shareholders representing 26.2 per cent of all shares in Karnov Group by the end of the extended acceptance period, and that BidCo has decided to withdraw the Offer by invoking the completion condition stipulating that completion of the Offer was conditional upon the Offer being accepted to such extent that BidCo would become the owner more than 90 per cent of all shares in Karnov Group.