STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Investor AB, Ericsson and Hutchison Whampoa have reached an agreement to sell their holdings in imGO, a listed company based in Hong Kong, to Global Town Limited. Investor AB's ownership, directly and indirectly through the private equity fund Investor Capital Partners - Asia Fund, was 26 percent*. The sales proceeds for Investor AB amounted to SEK 860 m. and the transaction generated a capital gain of SEK 110 m.
At the same time, Investor AB is forming a new entity for technology investments in Asia. imGO has an option to sell its five investments in the wireless sector to Investor at book value within three to 12 months. The transactions are subject to shareholder approval at an Extraordinary General Meeting of imGO.
imGO was formed in 2000, when Investor AB, Investor Capital Partners - Asia Fund, Ericsson and Hutchison Whampoa acquired a majority interest in the listed company Guoco Land.
* Investor's and Investor Capital Partners - Asia Fund's combined holding amounts to 33.7%.
INVESTOR AB
For further information:
Nils Ingvar Lundin, Managing Director, Corporate Relations: +46 8 614 2049, +46 70 514 2049. Fredrik Lindgren, Vice President, Investor Relations: +46 8 614 2031, +46 70 624 2031.
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