2005-03-07

Industri Kapital sells its entire holding in Alfa Laval AB

Not for release, publication or distribution in or into the United States, Australia, Canada or Japan

The Industri Kapital 2000 Fund has today sold its entire holding of 9,515,628 shares in Alfa Laval AB to a range of Swedish and international institutional investors. The sale corresponds to 8.5 per cent of the total number of shares and votes in Alfa Laval. The shares were sold at the price of SEK 116.50 per share.

Industri Kapital acquired a 62.2 per cent stake in Alfa Laval in August 2000, with the previous owner, Tetra Laval, retaining a minority stake. Since then Alfa Laval has carried out a significant change process which focused on improving operational and financial performance.  This has resulted in substantial cost reduction and margin improvement, while supporting sales growth.  Alfa Laval has also made selected strategic add-on acquisitions. Alfa Laval was listed on the Stockholm Exchange in May 2002 at the listing price of SEK 91 per share.  At the time of listing, the Industri Kapital 2000 Fund retained a 26.9 per cent stake in Alfa Laval, which was reduced during 2003 and 2004.

Operating profit (EBITA) reached SEK 1,695 million in 2004 compared to SEK 934 million in 1999.

“It has been exciting to work with Alfa Laval and its management over the last few years, having been part of re-establishing the company not only as a world-class company but also as a world-class performer. We are also happy to have returned this “classic” Swedish company to the Stockholm Exchange”, says Christian Salamon, Partner of Industri Kapital. “Alfa Laval has been a great investment for us and we believe that the company will continue to prosper”, added Christian Salamon.

Industri Kapital 2000 Limited,
Acting as attorney or general partner to the investors in the Industri Kapital 2000 Fund
3rd Floor, Charles Bisson House,
30-32 New Street, St. Helier,
Jersey JE2 3RA Channel Islands

For further information, please contact:
Christian Salamon, Partner, Industri Kapital, +46 70 378 95 27
Anne Rannaleet, Partner & Information Director, +46 70 378 95 50

 

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OR AN INVITATION TO ACQUIRE OR DISPOSE OF ANY SECURITIES.  THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2001, AS AMENDED (THE “ORDER”) OR ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) (HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC) OF THE ORDER AND WHO HAVE BEEN INVITED TO PARTICIPATE IN THE PLACING BY THE MANAGERS (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OR AN INVITATION TO ACQUIRE OR DISPOSE OF ANY SECURITIES IN ALFA LAVAL.

 This announcement is not for distribution directly or indirectly in or into the United States, Australia, Canada or Japan. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire ordinary shares in the capital of Alfa Laval in the United States, Australia, Canada or Japan or any jurisdiction in which such an offer or solicitation is unlawful. The ordinary shares in Alfa Laval referred to in this announcement have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities will be made in the United Kingdom, the United States, Sweden or elsewhere.

 This announcement has been issued by Industri Kapital and is the sole responsibility of Industri Kapital. Credit Suisse First Boston and Enskilda Securities are acting exclusively for Industri Kapital and no one else in connection with the Placing and will not be responsible to anyone other than Industri Kapital for providing the protections afforded to clients of Credit Suisse First Boston and Enskilda Securities nor for providing any advice in relation to the Placing or any other matters referred to in this announcement.

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