The purpose is to "optimize the company's capital structure by reducing the share capital and thereby creating additional shareholder value," Evolution writes in a press release.
Evolution, whose share is one of the 30 most traded on the Stockholm Stock Exchange, has also entered into an agreement for a credit facility of EUR 300 million to maintain financial flexibility.
The facility is provided by major banks JPMorgan and Citibank and is structured to be repaid in full after three years, with the possibility of two one-year extensions.
