Kinnevik transfers shares in Zalando into direct ownership
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has signed an
agreement with Rocket Internet to transfer indirectly held Zalando shares into
direct ownership. Following the transfer, Kinnevik now directly controls 37.5%
of the company.
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
and EUR 372m in the first quarter of 2013.
CEO of Kinnevik, Mia Brunell Livfors, commented:
"Zalando is a core holding in Kinnevik's portfolio and by transferring the
indirectly held shares into direct ownership we further strengthen the
governance of Zalando and our ability to work actively with the company to
execute its growth strategy and further strengthen its position as a leading
European e-commerce company. "
Separately, Zalando announced today that Anders Holch Povlsen, owner of the
fashion company BESTSELLER, joined the Zalando shareholder group. The company
press release is attached.
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 9.00 a.m. on 13 August 2013.
For further information, visit www.kinnevik.se or contact:
Mikael Larsson, Chief Financial Officer +46 (0)70 762 00 70
Torun Litzén, Director Investor Relations +46 (0)70 762 00 83
Investment AB Kinnevik was founded in 1936 and thus embodies seventyfive 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/1722615/573941.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#1722615]
Unternehmensinformation / Kurzprofil:
Datum: 13.08.2013 - 09:04 Uhr
Sprache: Deutsch
News-ID 287023
Anzahl Zeichen: 3607
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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"Kinnevik transfers shares in Zalando into direct ownership"
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