Telia finalises sale to Industri Kapital
- 2001-06-01 22:00 UTC
After receiving approval from the required authorities, Telia finalised the agreement it announced in March concerning the sale of eight companies in the former Enterprise business area to Industri Kapital 2000 Fund. Telia will remain a minority owner of these companies in the future. The sale is part of Telia´s efforts to streamline operations and focus on core business activities.
Industri Kapital owns 51 percent of the newly formed group of companies, while Telia's stake is 49 percent. The holding company for the eight units has been named Telefos. Jan Bruneheim has been appointed President and Birgitta Stymne Göransson and Anders Kronqvist have both been named Executive Vice Presidents.
The eight companies included in the agreement are Swedia Networks AB, Telia Prosoft AB, Respons AB, Validation AB, Telia Swedtel AB, Telia Dokumentation AB (name been changed to Swedia Comcarta AB), Multicom Security AB, TA Teleadress Information AB and their respective subsidiaries. Together, the companies have 5,622 employees.
"The deal will provide added value in several ways. Telia will release tied-up capital and management resources that will benefit the Group's core operations," says Eva Lindqvist, head of Telia Equity. "Through our minority ownership, we will also benefit from future growth in value that is generated by these divested companies as they gain access to a broader market outside the Telia sphere."
Telia and the companies whose ownership is being broadened have agreed on a tapering supply and volume commitment until the end of 2003. This agreement will guarantee Telia the availability of important services from these companies during the period, as well as provide commercial support to the businesses while they actively continue to develop new clients.
Telia has previously divested or broadened the ownership of the following companies: In Good Company AB, Telia Trading AB, Telia Kompetens, Svefo AB, Combinator IT AB, Telia Academy AB, Telia Contracting, Smålandsbörsen Data AB, Telia System & Service A/S, Altitun, Starman Kabeltelevisioone AS, Eniro AB and DRS AB.
- - -
Telia's Enterprises business area changed its name on April 1 to Telia Equity. Eva Lindqvist is head of the Telia Equity business area.
Evalotta Stenstrand, Communications Manager, Telia Equity, +46 70 5399685
Telia's Press Service, phone +46 8 713 58 30
This information was brought to you by Waymaker http://www.waymaker.net