Kinnevik sells Rolnyvik for a cash consideration of SEK 400m
Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has sold its Polish agricultural business Rolnyvik for a total consideration of approximately SEK 400m in cash.
Rolnyvik, an agricultural business comprising 6,700 hectares of land in Poland, was founded by Kinnevik in 2000. The acquirer of Rolnyvik is a Polish enterprise within the agricultural sector.
The transaction is in line with Kinnevik's strategy of focusing its resources on building a select number of successful digital businesses and reducing the number of businesses owned.
The fair value of Rolnyvik in Kinnevik's accounts was SEK 250m as per 30 September 2015.
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
Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses 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.Press release
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Source: Kinnevik via Globenewswire