STOCKHOLM, Sweden, July 11, 2005 (PRIMEZONE) -- Investment AB Kinnevik ("Kinnevik") with subsidiaries today announced that it has sold 701,250 A-shares and 7,378,249 B-shares in Cherryforetagen AB (publ) to an institutional investor. After the transaction, Kinnevik with subsidiaries owns 701,250 A shares in Cherryforetagen AB, representing 1.8 per cent economic interest and 7.9 per cent voting interest.
Investment AB Kinnevik is an investment company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The Group consists of the Parent Company Investment AB Kinnevik and a number of operating subsidiaries. The Parent Company manages a portfolio of long-term investments in a number of listed companies such as Tele2, Modern Times Group MTG, Millicom International Cellular, Metro International and Transcom WorldWide. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
The Group's subsidiaries are principally active in farming through Mellersta Sveriges Lantbruk, cartonboard and paper production through Korsnas, and banking, insurance, securities broking and trading, and asset management through Invik & Co.
Kinnevik's 'A' and 'B' shares are traded on the Stockholmsborsen 'O-list' with the ticker codes `KINVA' and `KINVB'.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=114613&fn=wkr0001.pdf