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    KINV B   SE0015810247

KINNEVIK AB

(KINV B)
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Delayed Nasdaq Stockholm  -  05/20 10:21:06 am EDT
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Mathem to merge with Axfood's Mat.se and enter into long-term supply agreement with Dagab

12/14/2021 | 02:03am EDT

Kinnevik AB (publ) ("Kinnevik”) today announced that Mathem has agreed to merge with Mat.se, Axfood’s online grocer business, and to enter into a long-term strategic supply agreement with Axfood’s purchasing and logistics company Dagab. Kinnevik will own 31 percent of Mathem after the transaction and remains the company’s largest owner.

The combination of Mathem with Mat.se, together with the partnership with Axfood, will create synergies, increase scale, and enable the combined company to further improve its customer proposition in the direct-to-home online grocery market. Axfood will own approximately 17 percent of Mathem and as part of the partnership Axfood's purchasing and logistics company, Dagab, will enter into a seven-year delivery and collaboration agreement with Mathem, covering purchasing, product range and logistics. The transaction is subject to customary regulatory approval and is expected to close in the first quarter of 2022.

Georgi Ganev, CEO of Kinnevik commented: “We welcome Axfood as a partner and owner in Mathem. Axfood’s leading market position and passion for good and sustainable food will help strengthen Mathem’s customer offering, and we look forward to support the company on their continued growth journey together with our new partner.”

Klas Balkow, CEO of Axfood commented: “Together with Mathem we now create a stronger and better pure online offering for Mathem’s and Mat.se’s customers. The long-term supply agreement between Dagab and Mathem strengthens that offering even further. We look forward to further develop the merged Mathem and Mat.se company together with Kinnevik and the other owners.”

In the all-stock merger, Mat.se and Mathem are valued in proportion to their respective revenues during the last twelve months as at 30 September 2021.

© Modular Finance, source Nordic Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
AXFOOD AB (PUBL) -0.32% 276.6 Delayed Quote.7.51%
KINNEVIK AB -0.06% 173.45 Delayed Quote.-46.21%
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Financials
Sales 2022 3 806 M 384 M 384 M
Net income 2022 5 853 M 590 M 590 M
Net Debt 2022 357 M 36,0 M 36,0 M
P/E ratio 2022 8,26x
Yield 2022 2,05%
Capitalization 48 514 M 4 893 M 4 893 M
EV / Sales 2022 12,8x
EV / Sales 2023 18,0x
Nbr of Employees 40
Free-Float 89,3%
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Number of Analysts 7
Last Close Price 173,60 SEK
Average target price 238,60 SEK
Spread / Average Target 37,4%
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Managers and Directors
Georgi Martin Ganev Chief Executive Officer
Erika Johanna S÷derberg Johnson Chief Financial Officer
James Kennedy Anderson Chairman
Natalie Patricia Tydeman Senior Director-Investment
Lena Charlotte Str÷mberg Independent Director
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