Kinnevik AB (publ) ("Kinnevik") today announced that it has divested Metro Sweden to AB Custos for a total consideration of SEK 50m.
Metro Sweden was founded in 1995 and is today Sweden's largest printed newspaper. It is distributed it Sweden's main cities Stockholm, Gothenburg and Malmo, with a daily readership of almost one million people. Metro has also developed and invested in several digital businesses including metro.se, its digital news platform, Metromode, a fashion and lifestyle portal, Metrojobb.se, a leading jobs classified and Studentkortet, which offers exclusive discount deals to students.
Kinnevik's acting CEO Joakim Andersson commented:
"The sale of Metro Sweden is in line with Kinnevik's strategy to focus our portfolio on our larger digital consumer brands. We have during a period of time evaluated strategic options for Metro Sweden and have now found a solution that we believe is good for all parties."
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is an industry focused investment company with an entrepreneurial spirit at its heart. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire