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Investment Kinnevik AB sells entire stake in BillerudKorsnas

Monday, 9 Dec 2013 02:13am EST 

Investment Kinnevik AB:Says a limited number of Swedish institutions have acquired all of Kinnevik's 51.8 million shares in BillerudKorsnas.Says total consideration for the shares was 3.7 billion Swedish crowns (72 Swedish crowns per share).Says the majority of the shares were acquired by AMF, the Fourth Swedish National Pension Fund's (AP4) and Alecta.Says the price of 72 Swedish crowns per share corresponds to a discount of 5% compared to the volume weighted average price of BillerudKorsnas share on NasdaqOMX in the past 30 trading days and 0 percent compared to the volume in the past 60 trading days.Says the sale of BillerudKorsnas is in line with the company's strategy to focus on digital services in telecom & financial services, online and media.Says Erik Penser Bankaktiebolag advised Kinnevik in the transaction. 

Company Quote

-1.9 -0.74%
11:21am EDT