STOCKHOLM, June 8 Swedish investor Kinnevik
said on Thursday it had sold its remaining 6.6
percent stake in German ecommerce company Rocket Internet
at 20 euros ($22.50) per share to institutional
Rocket's shares, which have recovered the ground they lost
in February when Kinnevik sold half of its stake in the company,
were seen down 2.8 percent in early trade in Frankfurt.
Acting CEO Joakim Andersson said that alongside Avito and
Zalando, Rocket Internet had been one of Kinnevik's most
successful digital investments in recent years.
"We will continue to work closely with Rocket Internet in
and around the companies where we remain partners and
co-investors, including Global Fashion Group, Home24 and
Westwing," he said in a statement.
Kinnevik, which invested 155 million euros in Rocket
Internet between 2009 and 2013, said gross proceeds from the
placement of around 10.9 million shares would amount to 217
It added it had received 510 million euros in cash and stock
dividends in the years prior to Rocket's 2014 listing.
Kinnevik was one of the first investors in Rocket but
clashed with the firm last year over the valuations of some of
their joint investments.
The two companies have also increasingly become competitors
as they seek out promising new start-ups to invest in.
($1 = 0.8880 euros)
(Reporting by Helena Soderpalm; editing by Niklas Pollard and