Kinnevik will pay SEK 300 million in cash for the remaining 4% of the shares in Korsnäs AB, including interest. The transaction gives rise to goodwill of SEK 29 million.
Vigo Carlund, President and CEO of Kinnevik, commented: "This considerably simplifies the Korsnäs balance sheet. Legal advice indicated that this dispute would not have been settled in the Courts until 2006 at the earliest, so we are pleased to have efficiently resolved this issue now".
For further information:
Vigo Carlund, President & CEO, Industriförvaltnings AB Kinnevik
tel: +46 8 562 000 00