Investment AB Kinnevik: Korsnäs to merge with Billerud - Kinnevik will be the largest owner in the combined company

Investment AB Kinnevik ("Kinnevik") today announced that it has signed an agreement with Billerud AB regarding a merger between Korsnäs and Billerud ("the Transaction"). Kinnevik will receive 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. The shares in the new company have been assigned a value of SEK 2.6 bn in the Transaction. Billerud will take over debt in the amount of SEK 5.7 bn relating to Korsnäs and Latgran. Korsnäs is thus valued at approximately SEK 11 bn.