Adapteo Group: Adapteo Plc's Board of Directors decides to postpone the release of the company's sustainability targets

2021-06-30 15:15:00

Adapteo Plc Press release - 30 June, 2021 at 15:15 CEST

As a result of the tender offer on 17 May 2021, where Palace Bidco Oy, a private limited company formed on behalf of and indirectly wholly owned by West Street Global Infrastructure Partners IV, L.P. ("WSIP"), announced a voluntary public cash tender offer to acquire all outstanding shares in Adapteo Plc, the Board of Directors of Adapteo Plc has decided to postpone the release of the company's sustainability targets. The release of the sustainability targets was initially planned for the first half of 2021. 

- Adapteo continues its path to become the most sustainable company in the industry and strives for sustainability leadership within the construction and real estate industry. Adapteo's management has done a great job developing an already implemented sustainability strategy and has presented ambitious sustainability targets and road map to the Board of Directors. I want to underline that the Board are very confident in the submitted material. Nevertheless, Adapteo's Board of Directors has decided to postpone the release of the targets due to the ongoing tender offer, and to let a potential future Board of Directors be part of such a release, says Peter Nilsson, Chairman of the Board of Adapteo Plc. 

Adapteo Plc will communicate an updated time plan to release its sustainability targets during the second part of 2021.