Metro divests operations in Hong Kong and St Petersburg
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announced that its subsidiary
Metro International S.A. has signed agreements to divest its operations in Hong
Kong and St Petersburg to local media companies in the respective market. Total
consideration for both transactions amounted to approximately SEK 260m. The
sale of Metro St.Petersburg has closed and the sale of Hong Kong is expected to
close by year-end.
The sale will not result in any capital gain or loss for the group. Following
the disposals, Metro International S.A.'s operations are focused on Sweden and
6 Latin American markets. The disposals is a result of the strategy to increase
the focus of the emerging market operations of Metro to the Latin American
region, where the newspaper has a very strong position in each of the country
where it is published.
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 4.00 p.m. on 29 October 2013.
For further information, visit www.kinnevik.se or contact:
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/1738917/583456.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#1738917]
Unternehmensinformation / Kurzprofil:
Datum: 29.10.2013 - 16:01 Uhr
Sprache: Deutsch
News-ID 310521
Anzahl Zeichen: 2993
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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"Metro divests operations in Hong Kong and St Petersburg"
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