By Anthony O. Goriainoff

EQT AB said on Wednesday that EQT Infrastructure V fund will launch an offer to acquire all outstanding shares in Norwegian transportation company Torghatten ASA through HATI BidCo AS in a voluntary cash offer.

The Swedish private-equity firm said the offer is for 175 Norwegian kroner ($20.03) in cash per Torghatten share, excluding the airline segment.

The company said Torghatten will distribute the company's shares in WF Holding AS--which owns the airline company Wideroe--through shares in a newly-established subsidiary, Flyco, to Torghatten's shareholders prior to or in connection with the execution of the offer. The company said shareholders will receive one share in Flyco for every share they own in Torghatten and that each share in Flyco is valued at NOK17 upon being distributed.

Based on this valuation, the offer and distribution of shares in Flyco value each Torghatten share at NOK192, representing a 14% premium to the last registered trading price on Norway's NOTC, the company said.

EQT said Torghatten's board has recommended shareholders to accept the offer, and that it has entered into agreements on certain terms to acquire shares from Torghatten's largest shareholders, which represent around 54% of the total issued and outstanding shares in the company.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

12-23-20 0434ET