Kinnevik's Board has decided the final terms and timetable for the Zalando distribution
Kinnevik AB (publ) ("Kinnevik") today announced that its Board has decided the final terms for the distribution of Kinnevik's shareholding in Zalando SE ("Zalando"), through a share redemption plan. The Board has decided to distribute Kinnevik's entire shareholding in Zalando, and accordingly Kinnevik will distribute
28 Zalando shares for
Kinnevik will thereby make an extraordinary value transfer of approximately SEK 45.8bn to its shareholders.
The Annual General Meeting of Kinnevik on 29 April 2021 resolved to distribute Kinnevik's shareholding in Zalando through a share redemption plan. The Board was authorised to determine the final distribution per share as well as the timetable for the share redemption plan. Kinnevik's Board has today decided to distribute Kinnevik's entire shareholding in Zalando through the share redemption plan, and that the redemption consideration accordingly will be 28 Zalando shares for 143 Kinnevik redemption shares. Based on the closing price for Zalando's share on the Frankfurt Stock Exchange as at 10 May 2021, the redemption consideration per share corresponds to approximately SEK 166, a total value transfer to Kinnevik's shareholders of approximately SEK 45.8bn.