Investment AB Kinnevik ("Kinnevik") today announced that it has divested its direct holding in Groupon, amounting to 8,377,158 shares.
Proceeds from the sales amounted to SEK 569 m (USD 81.5m), corresponding to an average share price of USD 9.74. Kinnevik invested SEK 20 m (USD 2.9 m) in MyCityDeal 2010 and received the Groupon shares when MyCityDeal was acquired by Groupon in 2010.
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 was founded in 1936 and thus embodies seventy-five years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around seven comprehensive business sectors; Telecom & Services, Online, Media, Micro financing, Paper & Packaging, Agriculture and Renewable energy. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
Kinnevik's class A and class B shares are listed on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.