Swedish Electromagnet Invest AB Sold to PHINIA, Plans Bond Redemption

Swedish Electromagnet Invest AB (publ) ("SEM") will be sold to PHINIA Inc, a leader in premium fuel and electrical systems. The agreement, signed by Procuritas and management shareholders, awaits approval from the Swedish foreign direct investment authority. Completion is expected in Q3 2025.

Once the transaction is finalized, SEM plans to redeem its bond loan from 2018/2026. This redemption will follow the bond's terms, including the applicable call option amount and accrued interest. An official announcement will follow the transaction's successful completion.

CEO Magnus Hellström expressed optimism about joining PHINIA, highlighting value creation opportunities. SEM's integration is set to enhance PHINIA's offerings while maintaining quality standards.