Investor AB increases ownership in b-business partners

Investor AB has increased its position in b-business partners by acquiring 90% of ABB’s shares and capital commitments in the pan-European venture capital company. ABB has received EUR 180m as a result of the transaction, while in return, Investor’s share of paid-in capital and future commitments will now be approximately 75%. The transaction is in line with Investor’s strategy to increase its exposure to European venture capital, and ABB’s strategy of focusing on its core businesses in power and automation technologies.

Additionally, the supervisory board and management of b-business partners believes that it can, at present, achieve its investment objectives with less capital than when it was founded. This is due to companies requiring less capital to carry out their business plans and because they have lower valuations. As a result of this, b-business partners has reduced the paid-in capital of all its shareholders. The positive net cash effect on Investor following the transactions is EUR 25m.The total capital commitment to b-business partners is EUR 728m, of which Investor represents approximately EUR 550m. Following the aforementioned transactions, b-business partners’ paid-in capital is approximately EUR 270m, of which Investor has contributed around EUR 200m.

Apart from Investor and ABB, shareholders in b-business partners include SEB, AstraZeneca, Atlas Copco, Electrolux, Ericsson, Hewlett-Packard, Saab Aerospace, Sandvik, SKF, Stora Enso and WM-data. To date, b-business partners has invested approximately E60m in 10 companies.

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