During the course of 2013 Industrivärden has sold most of its shareholding in Indutrade as a step in Industrivärden’s new investment in ICA Gruppen. Industrivärden has thereby left
Indutrade as an active owner.
In all, the divestments in 2013 have totaled 14.2 million shares for slightly more than SEK 3.1 billion at an average selling price of SEK 222 per share. Industrivärden’s remaining holding in Indutrade amounts to 481,122 shares, corresponding to 1.2% of the capital and votes, with a market value of SEK 0.1 bn.
Industrivärden’s aggregated cash-flow during the time it has held Indutrade amounts to approximately SEK 6.5 billion, including approximately SEK 1.7 billion in dividend payments and group contribution etc. Industrivärden’s original investment was approximately SEK 0.3 billion.
Commenting on the sale, Anders Nyrén, President and CEO of Industrivärden, said:
“During the 24 years that we have been an active owner in Indutrade, the company’s sales have grown from approximately SEK 900 M to more than SEK 8 billion, with good profitability. As part of Indutrade’s development we carried out an IPO of the company in 2005. Indutrade’s successful growth model and decentralized organizational structure, combined with professional management, have enabled strong growth and profitability. We have opted to now realize the value that we have built up in order to pursue alternative investment opportunities.”
Stockholm, August 30, 2013
AB INDUSTRIVÄRDEN (publ)
For further information, please contact:
Anders Nyrén, President and CEO, Industrivärden, tel. +46-8-666 64 00