Investment AB Kinnevik (publ) ("Kinnevik") announced today that Korsnäs AB has finalized the agreements with Gävle Municipality regarding the investment in Bomhus Energi AB in accordance with previously communicated terms.
For Korsnäs, the total investment of 50% of the shares and debenture loans in Bomhus Energi AB amounts to SEK 320 million. The investment will affect Korsnäs' cash flow in 2010-2012.
Furthermore, Bomhus Energi AB has today signed agreements regarding external bank financing, which means that the company's investment of SEK 1.8 billion in a new bioenergy plant at Korsnäs' industrial site in Gävle is fully financed. The purpose of the bioenergy plant is to, from 2013, secure delivery of environmentally compatible electricity and steam to the Korsnäs plant, as well as district heating to Gävle Energi's customers.
For further information, visit www.kinnevik.se or contact:
Christer Simrén, CEO Korsnäs AB
+46 (0)26 15 10 00
Mikael Larsson, CFO Kinnevik
+46 (0)8 562 000 00
+46 (0)70 762 00 70
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.