Investment AB Latour (publ) has today divested its entire shareholding in Academic Work. Purchasers are the company's principal owner Johan Skarborg through related companies and Novax AB. The divestment entails a reported capital gain of approximately SEK 300 m in the Group. Latour has also received an additional SEK 194 m in dividends and through refinancing, which means that Latour has had a total return of 442 per cent since the investment date. Latour's net asset value increases by SEK 80 m all else being equal compared with last reporting date.
Latour has been a co-owner in Academic Work since 2006, when the former company SäkI AB (later on merged into Latour) acquired a minority stake in Academic Work. The investment is a good example of where Latour have been able to contribute to a company's fine development by supporting the company in an expansive stage. The divestment is however a natural step in Latour's quest to be the main owner of the businesses it invests in, and now the company and its principal owner Johan Skarborg, together with Novax as the new owner, is given the possibility to continue the development of the company.
Göteborg, 25 March 2015
Investment AB Latour (publ)
Jan Svensson
President and CEO
For further information please contact:
Jan Svensson, President and CEO Investment AB Latour, Tel. +46 705 77 16 40
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 36 billion and the wholly-owned industrial operations generated a turnover of approximately SEK 7.6 billion in 2014.