Kinnevik: Sale of Kinnevik's 31% stake in Avito has closed

Following receipt of relevant approvals, Kinnevik's sale of its entire 31% stake in Avito closed on 15 December 2015.

The transaction, whereby Kinnevik sold its entire 31% interest in Avito to its co-investor Naspers for a total consideration of USD 846m, was announced on 23 October 2015.

The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 13.30 CET on 15 December 2015.

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Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses in four sectors: Communication, E-commerce & Marketplaces, Entertainment, and Financial Services. We work in partnership with talented founders and managers to create, invest in and lead fast growing digital businesses both in developed and developing countries. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.