Press Release

SSW Partners completes acquisition of Veoneer

Veoneer announced that SSW Partners, a New York-based investment partnership, has completed the previously announced acquisition of Veoneer, Inc. for $37.00 per share in an all-cash transaction, representing a total equity value of ~$4.6 billion.

SSW Partners expects to sell Veoneer’s Arriver business to Qualcomm Incorporated and retain Veoneer’s Tier-1 supplier and integrator businesses. Qualcomm and SSW Partners expect to complete the sale of the Arriver business on Monday, April 4.

The last day of trading for the Veoneer common stock on NYSE and the SDRs on Nasdaq Stockholm was March 31, 2022. Holders of Veoneer common stock or Veoneer SDRs will receive $37.00 per share in cash; holders of SDRs will receive the consideration in SEK.

As previously announced Veoneer’s new owners, SSW Partners, have appointed Jacob Svanberg as Veoneer’s new CEO, effective April 1. Jan Carlson, who has been the Company’s Chairman, President & CEO since its inception in 2018, is leaving his operational and Board roles at Veoneer, effective April 1, and will support the transition as Advisor to the Board and CEO.

SSW Partners will work closely with Veoneer’s management to ensure the pursuit of Veoneer’s business plan and to lead the process in identifying strong, long-term strategic owners for Veoneer’s Restraint Control Systems and Active Safety businesses. In the interim, Veoneer remains well-positioned to continue executing its strategy and focused on delivering best-in-class innovation, products, and services to its customers.

Centerview Partners LLC and Evercore Group L.L.C. acted as financial advisors to Qualcomm and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel. Davis Polk & Wardwell acted as legal counsel to SSW Partners. Morgan Stanley and Rothschild & Co. acted as financial advisors to Veoneer, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel.

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