Cirio acting for Aneo in connection with recommended public takeover bid on Arise

On 26 November 2025, Aneo Holding AS, through Aneo BidCo 1 AB, announced a public offer to acquire all outstanding shares in Arise at a price of SEK 45 in cash per share. The offer values Arise to approximately SEK 1.8 billion. The independent bid committee of Arise has unanimously recommended the shareholders to accept the offer.

Arise is a leading Swedish renewable company, listed on Nasdaq Stockholm, Mid Cap. Aneo is a renewable energy group created through a collaboration between TrønderEnergi and HitecVision.

Cirio acts for Aneo and Aneo BidCo with a team headed by Annika Andersson, Head of Equity Capital Markets and Public M&A, Jörgen Möller, Head of Energy, and Fredrik Morfeldt, Head of Infrastructure.