Deals
Kinnevik Sells Final $244 Million Stake in Rocket Internet
- The Swedish investment firm sold 10.9 million shares
- The exit comes four months after Kinnevik sold prior stake
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Kinnevik AB sold its remaining 217 million-euro ($244 million) stake in Rocket Internet SE, bringing to a close a volatile relationship with the German startup factory that had become marked by more frequent competition for investments.
Kinnevik on Wednesday said it was selling about 10.9 million shares in Rocket to institutional investors, or 6.6 percent of Rocket’s issued share capital. On Thursday, Stockholm-based Kinnevik put a price tag on the deal, saying it received 20 euros per Rocket share -- about 4.7 percent below the last closing price.