Kinnevik AB ("Kinnevik") today announced that the Supreme Administrative Court has decided not to grant the Swedish Tax Agency leave to appeal the tax case concerning withholding tax in the amount of SEK 702m in relation to Kinnevik's acquisition of Emesco AB in 2009.
In December 2015, the Administrative Court of Appeal in Sundsvall decided in favor of Kinnevik in the tax dispute, after which the Swedish Tax Agency sought leave to appeal the case in February 2016. As disclosed in its Annual Reports, Kinnevik 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.
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