Investment AB Kinnevik (publ) ("Kinnevik") today announced that the Swedish Administrative Court of Appeal has approved Kinnevik's appeal to treat the gain on the sale of the indirectly held shares in Invik in 2007 as tax free.
The Administrative Court of Appeal thereby rejects the Swedish Tax Authorities' claim to apply the Tax Evasion Act on the transaction. The gain on the sale amounted to SEK 822m. As earlier disclosed in Kinnevik's financial reports, the Company has not provided for any potential additional tax as a result of the dispute. Today's decision will thus not have any effect on Kinnevik's financial statements or cash flow.
Kinnevik discloses the information provided herein pursuant to the Securities Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was submitted for publication on 5 December, 2012 at 17.15 (CET).
For further information, visit www.kinnevik.se or contact:
|Mikael Larsson, Chief Financial Officer||+46 (0)8 562 000 70|
|Torun Litzén, Investor relations||+46 (0)8 562 000 83|
+46 (0)70 762 00 83
Kinnevik was founded in 1936 and thus embodies seventy-five years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around seven comprehensive business sectors; Telecom & Services, Online, Media, Micro financing, Paper & Packaging, Agriculture and Renewable energy. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
The Kinnevik's class A and class B shares are listed on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.