Kinnevik divests its remaining interest in Transcom
Investment AB Kinnevik ("Kinnevik") today announced that it has divested its remaining 1.9 million shares in Transcom WorldWide AB ("Transcom"), corresponding to 7.4% of the outstanding shares in the company, for a total consideration of SEK 162m. The average price was SEK 84 per share.
Lorenzo Grabau, CEO of Kinnevik commented: "In the past four years, Transcom has undergone a transformation process that has positioned the company on a path of growth and improving profitability. Given Kinnevik's strategy of focusing on digital consumer services companies, the sale of our remaining interest in Transcom is a further step in the execution of our strategy."
SEB acted as placing agent in the transaction.
For further information, visitwww.kinnevik.se or contact:
|Torun Litzén, Director, Investor Relations
|Phone +46 (0)8 562 000 83
|Mobile +46 (0)70 762 00 83
Kinnevik is an entrepreneurial investment group focused on building digital consumer brands in four sectors: Communication, E-commerce & Marketplaces, Entertainment, and Financial Services. We work in partnership with talented founders and managers to create, invest in and lead fast growing digital businesses both in developed and developing countries. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families.
Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire