Kinnevik sells 6.4 million Transcom shares to Altor
Investment AB Kinnevik ("Kinnevik") today announced that it has sold 6.4 million shares, corresponding to a 24.5% interest, in Transcom WorldWide AB ("Transcom") to funds advised by Altor Fund Manager AB ("Altor") for a consideration of SEK 66 per share, or SEK 421 million in total. Upon completion of the transaction, Kinnevik will retain 1.9 million shares, or a 7.4% ownership in Transcom.
Transcom is a global customer experience specialist, providing customer care, sales, technical support and credit management services through an extensive network of contact centers and work-at-home agents. Transcom employs 29,000 customer experience specialists at 54 contact centers across 23 countries, delivering services in 33 languages to over 400 international brands in various industry verticals. Transcom was founded in 1995 by Kinnevik. Following the November 2014, re-domiciliation of its parent company from Luxembourg to Sweden, Transcom shares are now listed on Nasdaq Stockholm under the ticker symbol TWW.
Since inception, the family of Altor funds have raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.1 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Apotek Hjärtat, Carnegie, Lindorff, Helly Hansen, Dustin and Byggmax.
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
Investment AB Kinnevik is a leading, long-term oriented, investment company based in Sweden. Kinnevik primarily invests in consumer centric businesses that provide innovative and value-added technology-enabled services. Our main areas of focus are the Communications, e-Commerce, Entertainment and Financial Services sectors. We own significant stakes in over 50 companies that operate in more than 80 countries across five continents, with a particular emphasis on growth markets. The Kinnevik Group employs more than 90.000 people around the world.
Kinnevik actively supports the companies in which it invests and plays an influential role on their respective Boards. Kinnevik was founded in 1936 by three Swedish families who continue to play a leadership role in the ownership of the Company and in the pursuit of its entrepreneurial ventures.
Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.Press release
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