Sweden's Kinnevik buys 30% of TAS' agro-business
17 June 2009
Kommersant reported this morning that Sweden’s Kinnevik signed an agreement to purchase 30% of TAS Group’s agricultural business for USD 4 mln. Reportedly Kinnevik has an option to increase its stake to 50%. Torun Littsen, Kinnevik’s director of investments, said her firm expects an annual 57% return on investment. Kinnevik, founded in 1926, also holds assets in international telecommunications and media. TAS Group’s agricultural businesses leases 30 ths ha and cultivates 16.7 ths ha of land.
