Kinnevik supports the proposed combination of MTG’s Nordic Entertainment and MTG Studios businesses with TDC Group


Kinnevik AB (publ) (“Kinnevik”) today announced that it supports the proposed combination of Modern Times Group MTG AB (publ)’s (“MTG”) Nordic Entertainment and Studios businesses (together “MTG Nordics”) with TDC A/S (“TDC Group”), and that it is expected to become a 5.6 percent shareholder in the combined company.

As announced today by MTG and TDC Group, the companies have entered into an agreement to combine MTG Nordics with TDC Group. As consideration, MTG will receive 308.9 million newly issued shares in TDC Group, worth approximately SEK 16.3bn per yesterday’s closing price, and SEK 3.3bn in cash. MTG intends to distribute all the received TDC Group shares to its shareholders immediately upon completion. The completion of the combination is subject to, inter alia, approval by the shareholders of MTG and TDC Group at their respective General Meetings, which are currently expected to be held during the second quarter of 2018, as well as necessary authority approvals.

Kinnevik is today the largest shareholder in MTG, holding in aggregate 20.0 percent of the shares and 47.6 percent of the votes.[1] Kinnevik has made an irrevocable commitment to vote in favor of the combination and the distribution at the general meeting in MTG, and not to sell any shares or otherwise deprive itself of any voting rights in MTG until the distribution is completed, subject to disposals according to customary conditions and for regulatory purposes. In addition, Kinnevik has committed to certain thresholds in relation to potential acquisitions of TDC Group shares until the distribution is completed, subject to customary conditions.

When the TDC Group shares have been distributed to MTG’s shareholders, Kinnevik is expected to hold 5.6 percent of the shares in TDC Group.

Georgi Ganev, CEO of Kinnevik, commented: “MTG has executed a successful strategic transformation from a traditional national broadcaster into a global digital entertainer. The proposed combination will create Europe’s first fully convergent media and communications provider by teaming up with a well-known partner in Denmark and Norway. The combination will at the same time enable MTG to focus on the development of its global digital entertainment verticals. We are supportive and excited about the proposed transaction.”

For further information about the financial details and preliminary timetable of the combination, the distribution of the TDC Group shares to MTG’s shareholders, as well as information about the combined company and the new MTG, please refer to the press releases issued by MTG at and TDC Group at


This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.35 CET on 1 February 2018.

Categories: News


Aurelius Omega Limited unlikely to complete acquisition of Connect Books

Aurelius Capital

Munich/London February 1, 2018 – Aurelius Omega Limited (“AOL”), a group company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) refers to the proposed acquisition of the books division of Connect Group PLC (“Connect Books”) pursuant to a share purchase agreement dated 20 December 2017.

Very shortly after signing of the transaction, we were informed that there was a severe under-performance of the Connect Books business for the month of December 2017, which led to a significant decrease in forecasted EBIT for the financial year 2017/2018. This was a marked deviation from the forecasts provided to us by Connect Group before signing of the transaction. As a result of this change, our banking partners confirmed that they could no longer provide financing for the proposed acquisition.

We have made several attempts to find a mutually satisfactory solution with Connect Group and the banking partners, but it now appears unlikely that the transaction will proceed.


Categories: News


Leo’s Lekland acquires Andy’s Lekland


The play centre chain Leo’s Lekland continues its rapid expansion. Through the acquisition of Andy’s Lekland, the second largest chain in Sweden after Leo’s Lekland, the expansion rate is further increased and the deal will strengthen Leo’s Leklands position primarily in the Stockholm region. The transaction comprises five play centres with a combined turnover of c. SEK 45 million.

The transaction means that Leo’s Lekland takes over a total of five Andy’s Lekland play centres in Stockholm (3), Gävle (1) and Örebro (1). The three play centres in Stockholm will be rebuilt and reopened under the Leo’s Lekland brand. The play centres in Örebro and Gävle will continue to operate under the Andy’s Lekland brand but under the management of Leo’s Lekland.

“Finding attractive locations in the Stockholm region is challenging and we believe the deal constitutes an opportunity to expand and consolidate our leading position, primarily in the capital of Sweden. We will now rebuild and adapt the play centers in Barkarby, Bromma and Länna to fit into Leo’s concept” says Joakim Gunler, CEO of Leo’s Lekland

For further information, please contact:
Joakim Gunler, +46 (0)70 553 30 21, CEO of Leo’s Lekland

Leo’s Lekland is the largest play centre chain in the Nordic region with a total of 41 play centres (24 in Sweden, 9 in Norway, 5 in Denmark and 3 in Finland). When the company was started in 2006, the founders wanted to create a meeting place for families with focus on play and movement. This is more relevant than ever since reports from WHO show that children spend too little time on physical activity. The company’s success is based on a strong concept of play, fun and movement for the whole family with security, cleanliness and service in the first place. For more information, see

Categories: News


Industrifonden exits Soundtrap – acquired by Spotify


We are excited to announce that our portfolio company Soundtrap is acquired by leading music streaming service Spotify. As the only institutional investor and the largest shareholder in Soundtrap, after the group of founders, we are proud to have (once again) helped an incredible team to continue to accelerate its so far successful journey.

We led Soundtrap’s $6m Series A round in 2016. The investment has helped Soundtrap accelerate growth, expand the team and execute on their mission to democratize and empower high-quality music making for everyone. But our relationship with Per, Björn, Fredrik and the Soundtrap team goes back a couple years before the initial investment.

– When we first met the Soundtrap team in 2014, we knew they were one of a kind. We saw a huge potential in Soundtrap early, they have most of what we look for in a team when it comes to skills, product and ability to execute on a bold vision. Today’s news proves that we were right, says Johan Englund, Industrifonden investment lead and board member of Soundtrap.

– We’re thrilled for Spotify and Soundtrap to join forces, this is a perfect match, adds Johan.

The exit marks an excellent proof of our ongoing mission to back bold entrepreneurs and founders in the Nordics who make a real difference. Following exits earlier this year, from automotive software company Movimento and IoT pioneer Fältcom, this marks another successful exit in 2017 for us.

We invested in Soundtrap in 2016, and is the only VC investor to date that has backed the company. The investment has helped Soundtrap accelerate growth, expanding the team and execute their mission to democratize and empower high-qualitative music making for everyone.

– It has been invaluable to have had Industrifonden with us on this journey. We are all enormously excited about the huge opportunity that comes with this deal, and we also look forward to continue the relationship with Johan and the rest of the Industrifonden team, says Per Emanuelsson, CEO and co-founder, Soundtrap.

Soundtrap launched its beta in 2013, with official launch in 2015 as a web-based, cross-platform, collaborative music recording studio. Since launch, the company has experienced strong growth both in the consumer space, and an education version that has been widely adopted by schools

Categories: News