Pulp & Paper News

Swedish institutions acquire Kinnevik’s 51.8 million shares in BillerudKorsnäs for SEK 3.7 billion

STOCKHOLM , Dec. 9, 2013 (Press Release) - 

Investment AB Kinnevik ("Kinnevik") today announced that a limited number of Swedish institutions have acquired all of Kinnevik's 51.8 million shares in BillerudKorsnäs for a total consideration of SEK 3.7 billion (SEK 72 per share). The majority of the shares were acquired by AMF, the Fourth Swedish National Pension Fund's (AP4) and Alecta. The remaining shares were acquired by a small number of financial institutions, mainly four larger Swedish equity funds.

The integration of Korsnäs and Billerud has been successfully implemented creating larger synergies than initially expected. With Kinnevik's increasing focus on digital services in telecom & financial services, online and media, the sale of BillerudKorsnäs is a further step in developing our strategy.

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