Kinnevik today announced that the company has sold 6.4 million shares, representing 24.5 percent of the outstanding shares of Transcom Worldwide AB to funds that are advised by Altor Fund Manager.
The purchase price is SEK 66 per share, totaling 421 million crowns.
The sale means that Kinnevik sells the majority of its shareholding in Transcom, Kinnevik founded in 1995 and now owns 1.9 million shares, representing 7.4 percent of outstanding shares in Transcom.
According to a press release from Altor this is the third acquisition of Altor Fund IV, a fund that was launched in July 2014 by Sweden as a resident.
– We are impressed by the transformation Transcom made in recent years and looks forward to supporting the company and its management on the onward journey, says Klas Johansson, partner at Altor in a statement.
– Altor has positive experiences of developing business in listed and will, as the largest shareholders of Transcom, to propose candidates to the Board, he continues.
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Transcom moved its legal domicile from Luxembourg to Sweden in November 2014 and the shares are now traded on the Nasdaq Stockholm.
Among Altor’s current and past investments are Pharmacies Heart, Carnegie, Lindorff, Helly Hansen, Dustin and Byggmax.
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