Kinnevik acquires 18.5% stake in Com Hem

28 Apr 2017

Swedish industrial and communications group Kinnevik, which is the largest shareholder in telecoms group Tele2, has agreed to acquire 33.9 million shares (corresponding to an approximate 18.5% interest) in domestic cableco Com Hem from Nordic company NorCell (indirect investment holding company of UK-based private equity firm BC Partners), for a cash consideration of SEK3.7 billion (USD420 million) in total. The deal is expected to close on 4 May. The acquisition will be fully financed by cash at hand and existing credit facilities and capital market programmes. Kinnevik’s acting CEO Joakim Andersson commented: ‘Com Hem has a strong market position in the Swedish broadband and TV market, and offers attractive growth and cash flow. The acquisition enables Kinnevik to take a leading position in an asset complementing our existing mobile and media companies.’

Sweden, Com Hem, Tele2 Sweden (incl. Com Hem)