eng

Completion of Metro refinancing

8/26/2003 3:59 PM

THESE MATERIALS ARE NOT AN OFFER FOR SALE OF METRO INTERNATIONAL S.A. SHARES IN THE UNITED STATES. METRO INTERNATIONAL SHARES MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. IT IS NOT INTENDED THAT ANY PORTION OF THE OFFERING WILL BE REGISTERED IN THE UNITED STATES OR THAT A PUBLIC OFFERING OF SHARES WILL BE CONDUCTED IN THE UNITED STATES.
 
 
COMPLETION OF METRO REFINANCING
 
Industriförvaltnings AB Kinnevik ("Kinnevik"), today announced the completion of both the conversion of its total interest-bearing loans to Metro International S.A. ("Metro") into Metro A and B shares and the Metro rights issue.
 
Kinnevik subscribed for its rights and will receive new Metro class A shares in proportion to its shareholding prior to the transaction. Kinnevik's total shareholding in Metro following the conversion and the rights issue is 79,895,929 class A shares and 116,057,984 class B shares, equivalent to a 37.3% economic interest and a 30.3% voting interest. Prior to the conversion and the rights issue, Kinnevik's holding in Metro amounted to 16.0 million class A shares and 0.8 million class B shares. The new shares will be issued today and will commence trading on the Stockholmsbörsen on 27 August 2003.
 
 
Industriförvaltnings AB Kinnevik was established in 1936 as an investment holding company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The business consists of operating companies such as farming company MSLA and paper and pulp producer Korsnäs AB, and a portfolio of long-term investments in a select number of listed companies such as Tele2 AB, Modern Times Group MTG AB, Millicom International Cellular S.A., Metro International S.A., Transcom WorldWide S.A. and Invik & Co. AB. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
 
Kinnevik's 'A' and 'B' shares are traded on the Stockholmsbörsen 'A-list'.