Investor : Refinancing of 3 Scandinavia completed

Stockholm, November 27, 2014

Refinancing of 3 Scandinavia completed

3 Scandinavia has repaid its bank loan, maturing in July 2015, through a SEK 7.5 bn. equity injection, of which SEK 3.0 bn. (40 percent) from Investor and SEK 4.5 bn. (60 percent) from Hutchison Whampoa. 3 Scandinavia retains the SEK 1.8 bn. loan, maturing in 2019, provided by the European Investment Bank (EIB) and guaranteed pro-rata by Investor and Hutchison Whampoa.
3 Scandinavia's current borrowing cost exceeds Investor's direct borrowing cost, despite the guarantee. By borrowing directly, Investor can provide funding to
3 Scandinavia at a lower total cost, while Investor's overall leverage is not impacted.

"Guaranteeing debt is economically comparable to injecting equity. Replacing

3 Scandinavia's guaranteed debt with equity makes the funding of the company more efficient, and its growing operating cash flow can be used for increased distribution to

the owners. Over the past year, 3 Scandinavia has generated net cash flow of over

SEK 1 bn., which has reduced net debt", comments Börje Ekholm, CEO of Investor.

Following the refinancing, Investor's guarantee of 40 percent of 3 Scandinavia's debt
has decreased from SEK 3.7 bn. to SEK 0.7 bn., now only related to the EIB loan.

Stefan Stern, Head of Corporate Relations and Communications, Phone +46 8 614 2058, +46 70 636 7417
Magnus Dalhammar, Head of Investor Relations, Phone +46 8 614 2130, +46 735 24 2130

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based international companies. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include, among others, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.

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