By reason of the disclosure of the other parties involved announced Kinnevik AB (publ) (“Kinnevik”) today announced that it intends to sell its remaining share of 3.6% in the
Lazada Group S. A. (“Lazada”) to Alibaba Group Holding Limited (“Alibaba”), for a bruttoköpeskilling about 115 MILLION.
Lazada, founded in 2012 and is a comprehensive e-commerce platform for local and international vendors and brands available to consumers in six markets in south east Asia: Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
In april 2016, Kinnevik sold barely half of its shares in Lazada to Alibaba for a bruttoköpeskilling about $ 57 million. The sale was part of a larger transaction in which Alibaba acquired a controlling stake in Lazada. Immediately after the transaction in april 2016 was valued Lazada at € 2.0 billion USD. In connection with the transaction were included Kinnevik and other shareholders, an agreement with Alibaba which gave Alibaba the right to acquire, and the shareholders the right to collectively sell, the remaining shares to market value during a period of 12 to 18 months after the closing of the transaction.
The intended sale of Kinnevik’s remaining share of 3.6% in Lazada for 115 $ M $ corresponds to a score of Lazada of 3.15 billion USD. The transaction corresponds to an increase in the value of 327 Million, or 47%, compared with Kinnevik’s reported fair value as of march 31, 2017. Kinnevik’s total investment of about $ 503m in Lazada is expected to result in a net profit of 933 Million, equivalent to 2.9 times the capital invested, and an IRR of 33%, per the June 27, 2017.
For further information, please visit www.kinnevik.com or contact:
Torun Litzén, Information and IR manager
Telephone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is a sektorfokuserat investment company that is passionate about entrepreneurship. Together with driven founders and business leaders, we build digital konsumentbolag that offers people more and better choices. We create, invest in and lead the rapidly growing businesses in both developed and emerging markets. We believe in delivering both shareholder value and social value, and by building well-governed companies that contribute positively to society. Kinnevik was founded in 1936 by the families of Stenbeck, Klingspor and von Horn. Kinnevik’s shares are traded on Nasdaq Stockholm’s list for large cap companies under the ticker CLASS A and CLASS B.