eng

Kinnevik partners with the online group European Internet Holding

12/21/2009 7:00 AM

Investment AB Kinnevik (publ) ("Kinnevik") announced today that it has partnered with the online group European Internet Holding ("EIH") and has made an investment of EUR 35 million into EIH. Kinnevik will own a mix of equity and warrants that in total gives it a right to acquire 25% over time if all warrants are exercised.

 

EIH (previously Rocket Internet) has a portfolio of e-commerce companies and other consumer-oriented online businesses, including an ownership in the e-commerce company Zalando. Kinnevik will work closely with EIH and actively support it in becoming a leading European online company. Kinnevik and EIH have also decided to establish an emerging market Internet company focused on expanding some of EIH's proven online business models into emerging markets based on the online expertise of EIH and the emerging market expertise of Kinnevik.

 

The investment is subject to clearance from relevant competition authorities.

 

For further information, visit www.kinnevik.se or contact:

Mia Brunell Livfors, President and Chief Executive Officer

+46 (0)8 562 000 00

Henrik Persson, Head of New Investments

+46 (0)8 562 000 00

 

Investment AB Kinnevik’s objective is to increase shareholder value, primarily through net asset value growth. Kinnevik manages a portfolio of investments focused around three comprehensive business areas; Major Unlisted Holdings which includes the cartonboard and paper company Korsnäs including shares in Bergvik Skog, Major Listed Holdings which includes Millicom International Cellular, Tele2, Modern Times Group MTG, Metro International and Transcom WorldWide, and New Ventures which is active in finding new investments in small and mid sized companies which has a significant growth potential. Kinnevik plays an active role on the Boards of its holdings.

The 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.