Kinnevik sells Groupon shares

Investment AB Kinnevik (OMX: KINV B) has divested its holding in Groupon Inc (NASDAQ: GRPN), a company maintaining the popular deal-of-the-day website for proceeds of 81.5 million USD or 569 million SEK, corresponding to an average price of 9.74 USD. The over 8.3 million shares represented approximately 1.3% of Groupon’s share capital. Kinnevik acquired the shares when Groupon acquired MyCityDeal in 2010. Kinnevik had invested 2.9 million USD or 20 million SEK in MyCityDeal shortly before. This divestment which thus comes with a rather nice return was made a lot easier by the recent IPO of Groupon.