Kinnevik to make offer for outstanding Metro International shares
Investment AB Kinnevik announced a cash offer to the owners of shares, warrants and debentures in newspaper company Metro International. Kinnevik, already holding 46.6% of the share capital and 42.4% of the votes in Metro, said that Metro had been successful in repositioning itself to find new opportunities for growth as markets have changed. The company believes that synergies can be achieved by combining Metro’s operations with parts of Kinnevik’s other existing operations in selected countries. Last year, Metro reported total sales of €196.9m and an operating profit of about €19.4m.