STOCKHOLM, Sweden, March 22, 2002 (PRIMEZONE) -- Ratos (Stockholm:RATOa.ST) today announced that it has sold its total shareholding in Hilton Group plc(Pink Sheets:HLTGY) -- a shareholding, which was received as a part of the payment for Scandic Hotels in April 2001. Hilton has agreed with Ratos AB on an early release from the lock-up on the shares.
This lock-up was due to expire on April 22, 2002. The 17,627,886 shares, representing 1.1 percent of the issued share capital of Hilton, have been purchased by Deutsche Bank AG London who are placing them with institutional investors. As a result of this sale, Ratos has no remaining holding in Hilton.
The sale of shares totals more than SEK 600m and gives Ratos an exit gain of approximately SEK 50m. The annual Internal Rate of Return (IRR) on Ratos investment in Hilton Group is somewhat less than 15 percent. Ratos will receive a dividend for year 2001 of SEK 14m in June.
Financial calendar 2002: Three-month report May 13 Six-month report August 26 Nine-month report November 13 Annual General Meeting April 10
Ratos is a listed private equity company. The business concept is to maximize shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos thus offers stock market players a unique investment opportunity. The net asset value of Ratos's investments is approximately SEK 9 billion. Ratos's holdings include Arcorus, Atle Industri, Camfil, Capona, Dahl, DataVis, DIAB, Dynal Biotech, Esselte, Exceed, Gadelius, Haendig, Haglafs, Hilding Anders, HL Display, Industri Kapital, Intervect, Kronans Droghandel, Lindab, Martinsson, Programmera, Q-Labs, Superfos and Telia Overseas.
This information was brought to you by Waymaker http://www.waymaker.net