As filed with the Securities and Exchange Commission on February 18, 2003
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of February 2003
Commission file number: 0-30524
Industriforvaltnings AB Kinnevik
(Exact name of Registrant as specified in its charter)
Kinnevik Industrial Management Corporation
(Translation of Registrant's name into English)
SWEDEN
(Jurisdiction of incorporation or organization)
Skeppsbron 18, Box 2094, S-103 13 Stockholm, Sweden
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ...X... Form 40-F ......
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes ...... No ...X...
[INDUSTRIFORVALTNINGS AB KINNEVIK LOGO]
Skeppsbron 18 (Publ) Org nr 556001-9035
Box 2094, 10313 Stockholm Sate Fagersta
Tel 08-562 000 00 Fax 08-20 37 74
PRESS RELEASE 14th March 2003
KINNEVIK SELLS CIS'S DEBT COLLECTION BUSINESS TO TRANSCOM
Industriforvaltnings AB Kinnevik, today announced that it has sold CIS's debt
collection business to Transcom WorldWide S.A., the European CRM specialist.
Transcom is paying SEK 180 million for CIS's (Credit International Services AB)
debt collection business, of which 25% is to be paid in Transcom shares and 75%
in cash. The number of Transcom shares to be issued to Kinnevik is to be
determined on the basis of the average transaction price for the Transcom A and
B shares between 10th March 2003 and 21st March 2003 inclusive. The cash element
is to be paid in installments with the final payment to be made by 30th
September 2003. The valuation of CIS's debt collection business was made by two
unrelated leading consultancies and their conclusions were presented to the
independent members of the Kinnevik Board of Directors.
Kinnevik will book a capital gain of approximately SEK 150 million on the
disposal of CIS's debt collection business.
Kinnevik has a history of successfully nurturing and developing businesses,
which are then spun off to its shareholders. CIS's debt collection business has
progressed well, but is not of sufficient size to be considered for demerger and
separate listing. However, the business fit with former Kinnevik subsidiary
Transcom is excellent. As CIS shares facilities at several of Transcom's sites
there is substantial scope for synergies to be realized. For Transcom this also
presents an opportunity to steadily develop debt collection services throughout
Europe, using its existing infrastructure and resources.
Vigo Carlund, CEO of Kinnevik, commented: "Kinnevik has again demonstrated its
ability to deliver value for its shareholders from organically developed
businesses, whilst this acquisition provides Transcom with the opportunity to
grow the CIS debt collection business."
For further information, please contact:
Vigo Carlund, CEO, Industriforvaltnings AB Kinnevik tel: +46 8 562 000 00
Investor and Press relations tel: +44 207 321 5010
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
INDUSTRIFORVALTNINGS AB KINNEVIK
Date: March 14, 2003
By /s/ Vigo Carlund
---------------------------------
Name: Vigo Carlund
Title: Chief Executive Officer