Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has exercised the option to acquire an additional 3.5% of the shares in Zalando for a total consideration of EUR 100m. Following a completion of the transaction, Kinnevik's ownership will be 38%, of which 29.3% will be held directly and 8.7% will be held indirectly via Rocket Internet.
The option was part of the transaction announced on 18 October 2012 when Kinnevik acquired an additional 10% of Zalando, and the purchase price per share was identical to the price paid in October. The sellers are the same as in the transaction in October, including Holtzbrinck Ventures, Tengelmann and Rocket Internet. The transaction is expected to close within three weeks.
Zalando is the largest online player by net revenues in the fashion sector in Europe. The company started its operations in Germany in 2008 and today operates online shops also in the Netherlands, Belgium, France, the United Kingdom, Austria, Switzerland, Italy, Spain, Sweden, Finland, Norway, Denmark, and Poland. Zalando has grown rapidly and reported net sales of EUR 1,159m in 2012.
The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 8.00 a.m. on 28 June 2013.
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director, Investor Relations||Phone +46 (0)8 562 000 83|
|Mobile +46 (0)70 762 00 83|
Investment AB 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 the following business sectors; Telecom & Financial services, Online, Media and Industry and other investments. 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 admitted to trading 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.