Kinnevik exercises Zalando call option
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has exercised
the option to acquire an additional 3.5% of the shares in Zalando for a total
consideration of EUR 100m. Following a completion of the transaction, Kinnevik's
ownership will be 38%, of which 29.3% will be held directly and 8.7% will be
held indirectly via Rocket Internet.
The option was part of the transaction announced on 18 October 2012 when
Kinnevik acquired an additional 10% of Zalando, and the purchase price per share
was identical to the price paid in October. The sellers are the same as in the
transaction in October, including Holtzbrinck Ventures, Tengelmann and Rocket
Internet. The transaction is expected to close within three weeks.
Zalando is the largest online player by net revenues in the fashion sector in
Europe. The company started its operations in Germany in 2008 and today operates
online shops also in the Netherlands, Belgium, France, the United Kingdom,
Austria, Switzerland, Italy, Spain, Sweden, Finland, Norway, Denmark, and
Poland. Zalando has grown rapidly and reported net sales of EUR 1,159m in 2012.
The information is of such character, which Kinnevik shall disclose in
accordance with the law on Trading with Financial Instruments (1991:980) and/or
the Securities Market Act (2007:528). The information was distributed for
disclosure at 8.00 a.m. on 28 June 2013.
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
Investment AB 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 the
following business sectors; Telecom & Financial services, Online, Media and
Industry and other investments. 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 admitted to trading 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/1712726/568385.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#1712726]
Unternehmensinformation / Kurzprofil:
Datum: 28.06.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 274267
Anzahl Zeichen: 3436
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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"Kinnevik exercises Zalando call option"
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