Divestiture of Grand Group and the Grand Hôtel property completed
Following regulatory approval, Patricia Industries, a part of Investor AB, and its subsidiary Vectura, have completed the divestiture of Grand Group and the Grand Hôtel property, respectively, to FAM AB. As announced on April 19, 2021, the total transaction value amounts to SEK 3.9bn, of which approximately SEK 0.3bn for Grand Group and approximately SEK 3.6bn for the Grand Hôtel property. Net proceeds from the transaction are approximately SEK 1.5bn after debt amortization in Vectura.
About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.
Our press releases can be accessed at www.investorab.com
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.
For further information:
Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com
Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com
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