Kinnevik exits BillerudKorsnäs

Kinnevik sold 51.8 million shares in the company, representing a 25.1% stake, for SEK 72 per share. The price corresponds to a discount of 5% over the volume-weighted average price of BillerudKorsnäs shares on NasdaqOMX in the past 30 trading days.

The majority of the shares were acquired by AMF, the Fourth Swedish National Pension Fund (AP4) and Alecta. The remaining shares were acquired by four large Swedish equity funds.

As a result of the transaction, Frapag Beteiligungsholding is now the largest shareholder in BillerudKorsnäs with its 15.5% share.

The sale of BillerudKorsnäs is part of Kinnevik's strategy to increase its focus on digital services in telecoms & financial services, online and media. Following the transaction, Kinnevik will have net cash of close to SEK 3bn. The deal will not affect Kinnevik's expected dividend.

Company
Established in 2012, BillerudKorsnäs is a renewable packaging material provider with eight production units and sales offices in around 10 countries. The company has net sales of SEK 20bn, 4,400 employees and operates in Europe and emerging markets.

People
Mia Brunell Livfors is the CEO of Kinnevik. Anders Oscarsson is the head of equities at AMF. Hannu Ryöppönen is chairman of the board of BillerudKorsnäs.

Advisers
Vendor – Erik Penser Bankaktiebolag (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Exits
• Now researching
• Industrials
• Sweden