THE ADMINISTRATIVE COURT OF APPEAL HAS APPROVED KINNEVIK'S APPEAL IN TAX DISPUTE
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announced that the Swedish
Administrative Court of Appeal has approved Kinnevik's appeal to treat the gain
on the sale of the indirectly held shares in Invik in 2007 as tax free.
The Administrative Court of Appeal thereby rejects the Swedish Tax Authorities'
claim to apply the Tax Evasion Act on the transaction. The gain on the sale
amounted to SEK 822m. As earlier disclosed in Kinnevik's financial reports, the
Company has not provided for any potential additional tax as a result of the
dispute. Today's decision will thus not have any effect on Kinnevik's financial
statements or cash flow.
Kinnevik discloses the information provided herein pursuant to the Securities
Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was
submitted for publication on 5 December, 2012 at 17.15 (CET).
For further information, visit www.kinnevik.se or contact:
Mikael Larsson, Chief Financial Officer +46 (0)8 562 000 70
Torun Litzén, Investor relations +46 (0)8 562 000 83
+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.
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.
Press release:
http://hugin.info/1114/R/1662925/539180.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kinnevik via Thomson Reuters ONE
[HUG#1662925]
Unternehmensinformation / Kurzprofil:
Datum: 05.12.2012 - 17:16 Uhr
Sprache: Deutsch
News-ID 210074
Anzahl Zeichen: 2920
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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