Buy 1 (KINVB), Get 2 More for Free (MTGB RemainCo. and SpinCo.)
If you’re looking for a best-in-class, industry focused investment holding company to invest in, which has an upcoming catalyst, new CEO brought on board and have the ability to own/receive shares of a Nordic media powerhouse when you purchase shares of its stock, then look no further. Kinnevik AB is the name to start work on as the Spinoff will take place in the next two weeks.Over the last year, Kinnevik AB (a Swedish investment company with significant stakes in over 25 companies) has been making a number of changes to its portfolio through divesting certain stakes and re-investing into other areas of value. One of those areas of change was building a 19% stake into a domestic cable and broadband provider, Com Hem Holdings AB (COMH SS). Soon after, Tele2 AB (TEL2B SS) announced an acquisition of COMH, to which KINV owns a 30% stake in Tele2. However, in order to clear the regulatory hurdles to allow this merger to go through, KINV needs to remove itself from its 20% stake it currently has in Modern Times Group (MTGB SS). Hence, the Spinoff/distribution was created and taking place on August 14, 2018.
On a similar note, MTGB will also be looking to do its own Spinoff of its TV operations (MTG’s Nordic Entertainment and Studio business) by Q4 2018 on the completion of KINV’s Spinoff of its 20% stake in MTGB. What will be left of MTGB will be a pure-play e-sports, online gaming and digital video content company. With no prospectus out yet for MTGB, we’ve focused our analysis on the first part of this entire transaction and what investors will be receiving while holding shares of KINV.
Kinnevik is an investment company with holdings in the sectors of communication, e-commerce, entertainment and financial services. Co.'s holdings include Millicom, a telecommunications and media company providing digital lifestyle products and services to emerging markets, and Tele2, a telecom operator, providing mobile services, fixed broadband and telephony, data network services, cable TV and content services. Within e-commerce, Co. has focused its investments in the shoes and fashion segment through companies such as Zalando with geographical presence in Europe and companies such as Lamoda, Dafiti, Jabong and Zalora focused on emerging markets.
The Edge Group - Global Fundamental Catalyst Investing. The Edge provides investors with access to hidden corporate value from Global Special Situations using a pioneering approach to investments. Founded in 2005 by fund management and investment banking professionals to provide high quality, private equity-level research on Global Corporate Divestitures for the benefit of fundamental event-driven, growth and value-oriented investors in this difficult to track, but proven investment space.
The Edge will look to screen and analyze include Spinoffs; Reverse Morris Trusts; Squeeze Outs; Privatizations; Demutualization; Deep Discounted; Rights Issues; Rights Offering; Restructuring; Insider Purchases / Buying Change of Management / CEO Change; Deteriorating fundamentals; Post-Bankruptcy; Reorganization; Tender Offer; M&A Deals; Secondary Offering; Share Swap; Thrift Conversions; Share Buybacks; Activist; Mergers. All analyzed from a fundamental point of view.
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