2012-11-28 00:51:31 -

The  relevant competition authorities have  now approved the combination between
Korsnäs  and Billerud. All relevant conditions have been met and the transaction
is planned to close on 29 November 2012.

As  previously  announced,  Investment  AB  Kinnevik  signed  an  agreement with
Billerud  AB  on  19 June  2012 regarding  a  combination  between  Korsnäs  and
Billerud.  The combination  was subject  to the  approval of the shareholders of
Billerud and customary approvals from relevant competition authorities.



The condition regarding shareholder approval was fulfilled following the
Extraordinary General Meeting in Billerud on 14 September. All relevant
competition authorities have now approved the combination. The conditions for
completion of the combination are   thus fulfilled.

The European Commission's decision to approve the combination is conditioned
upon the divestiture of a paper machine at the production unit in Gävle (PM2).
The sales of white kraft and sack paper products manufactured at PM2 amounted to
two percent of the new Group's total combined sales volume for the year 2011. In
addition BillerudKorsnäs will for a certain time period following the
divestiture offer to supply certain inputs such as pulp, steam and electricity
to the paper machine.

Kinnevik will receive approximately SEK 2.7 bn in cash consideration and will be
the  largest owner in  the new company  with an ownership  stake of 25%, all net
after the planned rights issue in Billerud amounting to SEK 2 bn. After closing,
Kinnevik's  net  debt  will  be  reduced  by  approximately  SEK  8.4 bn. On 30
September, the Group's net debt was SEK 9.8 bn.



Kinnevik  discloses the information  provided herein pursuant  to the Securities
Market  Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was
submitted for publication on 27 November, 2012 at 19.00 (CET).





For further information, visit www.kinnevik.se or contact:

Torun Litzén, Director, Investor Relations Phone +46 (0)8 562 000 83

                                           Mobile +46 (0)70 762 00 83





Kinnevik   was   founded   in  1936 and  thus  embodies  seventy-five  years  of
entrepreneurship  under the same group of principal owners. Kinnevik's objective
is  to increase shareholder value, primarily through net asset value growth. The
company's  holdings of growth  companies are focused  around seven comprehensive
business  sectors; Telecom &  Services, Online, Media,  Micro financing, Paper &
Packaging,  Agriculture and  Renewable energy.  Kinnevik has  a long  history of
investing  in emerging markets which has  resulted in a considerable exposure to
consumer  sectors in these markets. Kinnevik plays  an active role on the Boards
of its holdings.

Kinnevik's  class A and class B shares  are listed on the NASDAQ OMX Stockholm's
list  for large cap companies, within the  financial and real estate sector. The
ticker codes are KINV A and KINV B.


Press release: 
 hugin.info/1114/R/1660891/537980.pdf



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Source: Kinnevik via Thomson Reuters ONE
[HUG#1660891]