The Disciplinary Committee of Nasdaq Stockholm (the “Exchange") has found that TriCarbs BidCo AB (the “Offeror") has breached the Takeover rules of Nasdaq Stockholm (the “Takeover Rules") and has therefore issued the Offeror a fine amounting to SEK 100,000,000.
On April 27, 2026, the Offeror announced a recommended cash offer to acquire all outstanding shares in Cint Group AB (publ) (“Cint”). The consortium members at that time consisted of Triton Fund 6, Bolero Holdings SARL as well as Patrick Comer, CEO of Cint, and Brett Schnittlich, board member and former COO of Cint.
The Offeror has undertaken vis-à-vis the Exchange to comply with the Takeover Rules and to submit to any sanctions that the Exchange may impose in the event of a breach of those rules.
On 27 May 2026, the Swedish Securities Council (Aktiemarknadsnämnden) issued a ruling (2026:18), in which it concluded that the planned composition of the bidding consortium was incompatible with the equal treatment principle set out in Rule II.10 of the Takeover Rules.
The Offeror has acknowledged the breach of the Takeover Rules.
The Disciplinary Committee therefore finds that the Offeror has breached the Takeover Rules. The Disciplinary Committee considers the violation to be particularly serious and sets the fine at SEK 100,000,000.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
