Foundation merger provides significant capital increase

The boards of the Foundation Christina och Torsten Ahlströms Minne (CTAS) and the Foundation Eva Ahlströms Stiftelse (EAS) have decided on the merger of the two foundations on 09/03/2020 in which CTAS will merge into EAS.

The merger is based on the same type of operations and value base of the two foundations. Through the merger, EAS improves operating conditions as the capital base of EAS almost doubles. The book value of the assets transferred from CTAS to EAS was about EUR 0.9 million at the end of 2017 and the current value of the assets was approximately EUR 1.8 million.

The process of merger of the two funds start immediately and the scheduled date of execution of the merger is the 08/31/2018. The implementation of the merger requires customary regulatory approvals.

Eva Ahlströms Foundation has shown competence and willingness to work for the things that the foundation represents, and we are impressed by the capacity shown by the Foundation, says Carl Ahlström, Chairman of CTAS.

We greatly appreciate the support and recognition we have received by the Board of CTAS to our business. We are very grateful for this trust and look forward to continuing our work with a much stronger balance sheet due to the capital we receive through this merger says Maria Bondestam, chairman of the EAS.