SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
(AMENDMENT NO. 2)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13-
d-(1)(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
SCANIA AB
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(Name of Issuer)
CLASS A SHARES
CLASS B SHARES
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(Title of Class of Securities)
CLASS A SHARES - XL 74244
CLASS B SHARES - XL 74245
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(CUSIP Number)
Paul Kumleben, Esq.
Davis Polk & Wardwell
1 Frederick's Place
London, EC2R 8AB
England
011-44-171-418-1360
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
August 6, 1999
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(3), 13d-1(f) or 13d-1(g), check the
following box |_|.
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CUSIP NO. XL 74244 13D Page 2 of 8 Pages
XL 74245
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
INVESTOR AB
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2. CHECK THE APPROPRIATE BOX IF A MEMBER (a) |_|
OF A GROUP* (b) |X|
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) |_|
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
KINGDOM OF SWEDEN
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7. SOLE VOTING POWER Class A Shares: 54,061,380
Class B Shares: 1,508,693
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Shares: 0
BENEFICIALLY Class B Shares: 0
OWNED BY -----------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER Class A Shares: 54,061,380
REPORTING Class B Shares: 1,508,693
PERSON WITH -----------------------------------------------------------
10. SHARED DISPOSITIVE POWER Class A Shares: 0
Class B Shares: 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Shares: 54,061,380
Class B Shares: 1,508,693
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_|
CERTAIN SHARES*
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT ROW (11)
Class A Shares: 54.0%;
Class B Shares: 1.5%;
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14. TYPE OF REPORTING PERSON*
CO
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Investor Aktiebolaget, a limited liability company incorporated under the
laws of Sweden ("Investor") hereby amends and supplements its Report on
Schedule 13D, originally filed on May 12, 1999 and amended by Amendment No.1
thereto filed on August 11, 1999 (the "Schedule 13D") with respect to the
purchase of shares of Class A and Class B Common Stock, SEK 10 nominal value
per share (the "Common Shares"), of Scania Aktiebolaget, a limited liability
company incorporated in Sweden (the "Issuer"). Unless otherwise indicated,
each capitalized term used but not defined herein shall have the meaning
assigned to such term in the Schedule 13D.
This Amendment No. 2 to the Schedule 13D is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended, by Investor. It
shall refer only to the information that has materially changed since the
filing of the Schedule 13D.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
For further details of the Agreement described under Item 4 of the
Schedule 13D, see the text of the Agreement filed under Item 7 hereof and
which is incorporated herein by reference.
Item 7. Material to be Filed as Exhibits
1. Agreement dated August 6, 1999 between Investor AB and AB Volvo.
2. Translation of the Agreement into English.
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: August 13, 1999
INVESTOR AB
By: /s/ Adine Grate Axen
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Name: Adine Grate Axen
Title: Managing Director
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EXHIBIT INDEX
Exhibit No. Description
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1. Agreement dated August 6, 1999 between Investor AB and AB Volvo 2
2. Translation of the Agreement into English
3
EXHIBIT 1
Investor AB ("Investor") ager 54.061.380 st A-aktier och 1.508.693 st B-aktier
i Scania AB ("Bolaget"), vilket motsvarar 27,8 % av kapitalet och 49,3 % av
rosterna i Bolaget. AB Volvo ("Volvo") ager 20.015.306 st A-aktier och
23.030.970 st B-aktier i Bolaget, vilket motsvarar 21,5 % av kapitalet och
20,3 % av rosterna i Bolaget. Investor har forklarat sig berett att salja
samtliga sina aktier i Bolaget till Volvo, som forklarat sig villigt att kopa
dessa aktier fran Investor. Volvo kommer den 6 augusti 1999 att offentliggora
sitt beslut att lamna ett offentligt erbjudande att forvarva ovriga utestaende
aktier i Bolaget och att darvid erbjuda aktieagarna att overlata sina aktier i
Bolaget till Volvo for antingen SEK 315 kontant per aktie eller - under
forutsattning att bolagsstamman i Volvo fattar beslut om erforderlig
nyemission - sex nyemitterade aktier i Volvo for varje femtal aktier i Bolaget
eller en kombination darav. Innehavare av A-aktier i Bolaget kommer darvid att
erbjudas mojlighet att sasom vederlag for sina A-aktier i Bolaget valja att
erhalla antingen A- eller B-aktier i Volvo och innehavare av B-aktier i
Bolaget kommer erbjudas mojlighet att sasom vederlag for sina aktier erhalla
B-aktier i Volvo.
Mot denna bakgrund har mellan Investor och Volvo denna dag traffats foljande
AVTAL
1. Investor overlater till Volvo pa de villkor och de forutsattningar
som anges i detta Avtal till Volvo 54.061.380 st A-aktier och
1.508.693 st B-aktier i Bolaget, nedan gemensamt benamnda Aktierna.
2. Vederlaget for 60 % av de overlatna A-aktierna (dvs 32.436.828
A-aktier) och 60 % av de overlatna B-aktierna (dvs 905.216 B-aktier)
skall vara SEK 315 per aktie.
3. Investor har ratt att sasom vederlag for de resterande 40 % av de
overlatna aktierna (dvs 21.624.552 A-aktier och 603.477 B-aktier)
valja att antingen erhalla SEK 315 kontant eller - under
forutsattning att bolagsstamma i Volvo fattar beslut om erforderlig
nyemission - sex nyemitterade aktier i Volvo for varje femtal aktier
aktier i Bolaget. Investor skall darvid aga ratt att sasom vederlag
for sina A-aktier i Bolaget valja att erhalla antingen A- eller
B-aktier i Volvo och skall for sina B-aktier erhalla B-aktier i
Volvo.
Investor skall meddela Volvo huruvida vederlaget skall utga i
kontanter eller i aktier, eller i kombination darav, senast vid den
tidpunkt da anmalningstiden for det offentliga erbjudandet, inklusive
forlangningar, loper ut. Investor har for avsikt att pa marknaden
forvarva aktier i Volvo for den kontantlikvid som ar hanforlig till
de ovan namnda 40 % av Aktierna om kontantalternativet enligt ovan
valjs.
4. Volvo ager ratt att frantrada detta Avtal om berorda
konkurrensmyndigheter inte lamnar erforderliga godkannanden av
Avtalet pa for Volvo godtagbara villkor eller om andra erforderliga
myndighetstillstand inte erhalles. Volvo skall vara skyldigt att
godta med berorda konkurrensmyndigheter forhandlade villkor, under
forutsattning att de inte medfor vasentligt negativa effekter for
Volvo.
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5. Volvo atar sig att efter basta formaga vidta nodvandiga atgarder for
att snarast mojligt erhalla berorda konkurrensmyndigheters
godkannanden av detta Avtal. I den man Investor kan medverka, atar
sig Investor att efter basta formaga medverka till att sadana
godkannanden snarast erhalls.
6. De aktier i Bolaget for vilka Volvo skall erlagga kontant betalning
skall tilltradas senast fem bankdagar efter den dag erforderliga
godkannanden enligt punkten 4 ovan erhallits eller Volvo har
accepterat att tilltrade kan ske utan sadana godkannanden.
Aktier for vilka vederlag skall utga i nyemitterade aktier i Volvo
skall tilltradas senast den tionde bankdagen efter den dag da den
erforderliga nyemissionen registrerats.
Om forutsattningarna for likvid ej ar uppfyllda senast den 31 mars
2000 ager Investor ratt att frantrada detta avtal.
7. Investor garanterar att Aktierna inte belastas av hembud, option,
pantratt eller annan rattighet som omojliggor Investors fullgorande
av overlatelsen av Aktierna utan belastningar. I den man anmalda kop
av av Investor utstallda optioner i Bolaget fullfoljs skall antalet
B-aktier som skall overlatas till Volvo reduceras med maximalt
120.230 st B-aktier.
8. Investor forbinder sig att under tiden fram till dess att Volvo har
tilltratt Aktierna inte utova sin rostratt for Aktierna vid
bolagsstamma i Bolaget pa ett sadant satt att vardet pa Aktierna
negativt paverkas i icke ovasentlig man. Investor forbinder sig
salunda att inte medverka till att aktieagarna i Bolaget fattar
beslut om utdelning av kontanter eller aktier, aterkop av egna
aktier, inlosen av aktier med aterbetalning till aktieagarna enligt
bestammelserna i 6 kap aktiebolagslagen eller nyemission av aktier,
konvertibler eller teckningsoptioner.
Om Investor valjer aktiealternativet enligt punkten 3 ovan forbinder
sig Volvos styrelse att inte lamna forslag att bolagsstamma i Volvo
under perioden fran den tidpunkt da anmalningstiden for det
offentliga erbjudandet, inklusive for-langningar, loper ut till dess
att tilltrade av Aktierna skett, fattar motsvarande beslut som
framgar av forsta stycket.
9. I den man Investor kan medverka, atar sig Investor att verka for att
Bolagets verksamhet under perioden fram till dess att Aktierna har
tilltratts enligt ovan kommer att bedrivas i normal omfattning och
att det i Bolaget endast kommer att forekomma med den lopande
verksamheten sammanhangande, normala affarstransaktioner i enlighet
med Bolagets hittillsvarande praxis.
10. Den av Volvos bolagsstamma utsedda nomineringskommitten har
informerat Volvo om att kommitten har for avsikt att pa extra
bolagsstamma foresla att Investor erbjuds en styrelseplats i Volvo
under forutsattning att Volvo forvarvar Aktierna.
<PAGE>
11. Part skall inte utan samtycke av andra parten avsloja innehallet i
detta Avtal om inte skyldighet dartill foreligger enligt lag eller
annan borsrattslig reglering.
12. Tvist angaende detta Avtal eller ur detta Avtal harflytande
rattsforhallanden skall avgoras genom skiljeforfarande enligt lagen
om skiljeforfarande. Skiljeforfarandet skall aga rum i Goteborg.
Detta Avtal har upprattats i tva (2) exemplar, av vilka parterna tagit var
sitt.
............den..................1999 ...........den.................. 1999
INVESTOR AB (publ) B VOLVO (publ)
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EXHIBIT 2
Investor AB ("Investor") owns 54,081,380 Series A shares and 1,508,893 Series
B shares in Scania AB ("the Company"), corresponding to 27.8% of the capital
and 49.3% of the voting rights in the Company. Volvo owns 20,018,308 Series
A shares and 23,030,970 Series B shares in the Company, corresponding to 21.5%
of the Capital and 20.3% of the voting rights in the Company. Investor has
declared that it is prepared to sell all its shares in the Company to Volvo,
which has declared itself willing to acquire these shares from investor. Volvo
will publicly announce its decision on August 6, 1999 to make a public offer
to acquire the remaining shares outstanding in the Company and in this
connection to make the shareholders an offer to transfer their shares in the
Company to Volvo for either SEK 315 in cash per share or -- provided that a
General Meeting of Shareholders in Volvo approves the required issuance of new
shares -- six new shares in Volvo for each five shares in the Company or a
combination thereof. As payment for their Series A shares in the Company,
holders of Series A shares in the Company will in this connection be offered
the possibility of choosing between either Series A or Series B shares in
Volvo and holders of Series B shares in the Company will be offered the
possibility to receive Series B shares in Volvo as payment for their shares.
Against this background, Investor and Volvo have on this day concluded
the following
AGREEMENT
1. In accordance with the terms and conditions set out in this
Agreement, Investor transfers to Volvo 54,051,380 Series A shares and
1,508,653 Series B shares in the Company, hereinafter referred to
jointly as the Shares.
2. Payment for 60% of the transferred Series A shares (that is,
32,436,828 Series A shares) and 60% of the transferred Series B
shares (that is, 905,216 Series B shares) shall be 8EK 315 per share.
3. As payment for the remaining 40% of the transferred shares (that is,
21,624,552 Series A shares and 603,477 Series B shares), Investor is
entitled to choose either to receive SEK 315 in cash or -- provided
that a General Meeting of Shareholders in Volvo approves the required
issuance of new shares -- six newly issued shares in Volvo for each
five shares in the Company. As payment for its Series A shares in the
Company, Investor shall in this connection be entitled to choose
either Series A or Series B shares in Volvo, and for its Series B
shares shall receive Series B shares in Volvo.
Investor shall notify Volvo as to whether payment shall be made in
cash or in shares, or a combination of both, not later than the
expiration date of the acceptance period for the planned public
offer, including extensions. Investor intends to acquire shares in
Volvo in the marketplace for the cash proceeds attributable to the
aforementioned 40% of the Shares if the cash alternative as above is
chosen.
4. Volvo is entitled to waive this Agreement if the appropriate
competition authorities do not grant the requisite approval of the
Agreement on conditions acceptable to Volvo or if other requisite
approval of the authorities is not received. Volvo shall be obliged
to accept the conditions negotiated with the appropriate competition
authorities provided that they do not entail considerably negative
consequences for Volvo.
5. Volvo undertakes to do its utmost to take the necessary measures to
gain the approval of this Agreement by the relevant competition
authorities as soon as possible. To the extent it can participate,
Investor undertakes to do its utmost to secure such approval as soon
as possible.
6. The shares in the Company for which Volvo shall make cash payment
shall be taken into possession not later than five banking days after
the date on which the required approvals are received in accordance
with point 4 above, or Volvo has accepted that possession can be
effected without such approvals.
Shares for which payment shall be made in the form of newly issued
shares in Volvo shall be taken into possession not later than the
tenth banking day after the date on which the necessary new issue is
registered.
If the conditions for payment are not fulfilled not later than March
31, 2000, Investor is entitled to waive this agreement.
7. Investor guarantees that the shares shall not be encumbered by
preemptive rights options, pledges or other rights which prevent
Investor's completion of the transfer of the Shares unemcumbered. To
the extent that registered purchases of warrants issued by Investor
in the Company are exercised, the number of B shares to be
transferred to Volvo shall be reduced by a maximum of 120,230 B
Series.
8. During the period up until Volvo has assumed ownership of the shares,
Investor pledges not to utilize its voting rights for the shares at
General Meetings of Shareholders in the Company in such a manner that
the value of the shares is adversely affected to a not-insignificant
degree. Accordingly, Investor agrees not to vote in favor of
decisions involving a dividend in the form of cash or other shares.
Buy-back of own shares, redemption of shares with repayment to the
shareholders in accordance with the provision of Section 6 of the
Swedish Companies Act or a new issue of shares, convertibles or
warrants.
Should Investor choose the share alternative in accordance with Point 3
above, Volvo's Board of Directors agrees not to present proposals
whereby General Meetings of Shareholders in Volvo, during the period
from the time the acceptance period, including extensions, expires
until possession of the Shares has been effected, make corresponding
decision as stated in the first paragraph above.
9. To the extant Investor can participate, Investor undertakes, during
the period up until possession of the shares has been affected
pursuant to the above, to strive to ensure that the Company's
operations will be conducted to the normal extent and that the
Company shall only conduct transactions that normally arise in the
context of ongoing operations in line with the practice of the Company
to date.
10. The Nominating Committee appointed by the Annual General Meeting of
Volvo has informed Volvo that the Committee intends to propose at a
Special Meeting of Shareholders that Investor be offered a position on
the Board of Directors of Volvo under the condition that Volvo
acquires the Shares.
11. The parties shall not disclose the content of this Agreement without
the consent of the other party, unless compelled to do so in
accordance with legislation or other stock exchange regulations.
12. Disputes arising from this Agreement or relating to legal processing
resulting from this agreement shall be settled by arbitration
proceedings in accordance with the Swedish Arbitration Act.
Arbitration shall be conducted in Gothenburg, Sweden,
This agreement has been prepared in two (2) copies and each party has received
a copy.
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Investor AB (publ) Investor AB (publ)
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