Brief: Industrivärden mulls selling SSAB shares in book building process

Industrivarden AB

23/04/2018 17:03

April 23 (Reuters) - Industrivarden AB  INDUa.ST :
    * REG-INDUSTRIVÄRDEN CONTEMPLATES TO DIVEST SHARES IN SSAB
    * INDUSTRIVARDEN AB Q1 MORGAN STANLEY AND CARNEGIE HAVE BEEN
RETAINED TO EVALUATE POSSIBILITIES OF A DIVESTMENT OF UP TO
INDUSTRIVÄRDEN'S ENTIRE HOLDING OF 54,633,318 CLASS B SHARES, AS
WELL AS UP TO 19,000,000 OF INDUSTRIVÄRDEN'S CLASS A SHARES, IN
SSAB TO SWEDISH AND INTERNATIONAL INSTITUTIONAL INVESTORS
    * INDUSTRIVARDEN AB Q1 HOLDING OF CLASS B SHARES CORRESPONDS
TO
5.31 PERCENT OF CAPITAL AND 1.45 PERCENT OF VOTING RIGHTS IN
SSAB.
    * INDUSTRIVARDEN AB Q1 HOLDING OF CLASS A SHARES COVERED BY
A
POTENTIAL TRANSACTION CORRESPONDS TO 1.84 PERCENT OF CAPITAL AND
5.04 PERCENT OF VOTING RIGHTS IN SSAB.
    * INDUSTRIVARDEN AB Q1 TRANSACTION IS AIMED AT STRENGTHENING
INDUSTRIVÄRDEN'S FINANCIAL FLEXIBILITY, AT SAME TIME AS COMPANY
REMAINS AS LARGEST OWNER IN TERMS OF VOTES
    * Following completion of the transaction, Industrivärden’s
shareholding in SSAB will comprise 44,334,933 class A shares
corresponding to 4.31 percent of the capital and 11.77 percent
of the votes. 
    * Subject to completion of the transaction, Industrivärden
will
enter into a customary lock-up clause on the
remaining shares in SSAB of approximately 180 days.

Source text for Eikon:  ID:nGNE6Xw81Z 
Further company coverage:  INDUa.ST 

 (Reporting By Johan Ahlander)
 ((johan.ahlander@thomsonreuters.com;))