Kinnevik AB (publ) (“Kinnevik”) today announced that it has agreed to acquire 33.9 million shares, corresponding to an approximate 18.5% interest, in Com Hem Holding AB (publ) (“Com Hem”) from NorCell S.à r.l., the indirect investment holding company of funds advised by BC Partners LLP, for a cash consideration of SEK 110 per share, or SEK 3.7 billion in total.
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. With its powerful and future-proofed broadband network covering half of the country’s households, Com Hem is an important driver of creating a digital Sweden. Com Hem’s shares are listed on Nasdaq Stockholm under the ticker code COMH.
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.”
Closing is expected to occur on 4 May. The acquisition will be fully financed by cash at hand and existing credit facilities and capital market programs.