Private equity firm EQT AB (publ) declared its planned takeover of Swedish pharmaceutical company Recipharm AB (publ) unconditional.

The transaction will be made through Roar BidCo AB, a unit of the private equity firm's EQT IX fund.

At the end of the acceptance period on Feb. 12, 70,111,783 Recipharm shares, corresponding to about 69.5% of the share capital and about 23.9% of the voting rights, and 1,000 convertible bonds in Recipharm were tendered in the offer.

Along with the shares already held or otherwise controlled by Roar BidCo and its closely related parties, Roar BidCo's shareholding in Recipharm totals 96,053,193 shares, equating to 95.1% of the share capital and 98.3% of the voting rights, as well as 1,000 convertible bonds.

The remaining shareholders who have not tendered their shares will have until 4 p.m. CET on Feb. 26 to do so. Settlement for the tendered shares is expected to occur around Feb. 17, while settlement during the extended acceptance period is anticipated to take place around March 3.

The buyer, which has completed all of the conditions under its offer, will submit a request to the company's board to convene an extraordinary general meeting to consider its proposal to elect new members and directors.

It will also launch a compulsory redemption of the remaining shares in Recipharm and the delisting of its shares and convertible bonds from Nasdaq Stockholm and the Frankfurt Stock Exchange, Open Market, respectively.