Kinnevik set to divest 45% stake in Saltside Technology
Deal News | Jan 27, 2025 | Aim Group
Kinnevik, a Swedish investment company, plans to divest its 45% stake in Saltside Technology. This company owns significant marketplace operations such as Ikman in Sri Lanka and Bikroy in Bangladesh. Founded in Sweden, both Kinnevik and Saltside Technology have been key players in the online marketplace sector within their operational regions. The move follows Kinnevik's strategy adjustment efforts in 2023, when they reduced certain other holdings or investments as part of realigning their portfolio strategy for enhanced focus on other sectors.
Sectors
- Investment Management
- E-commerce/Online Marketplaces
Geography
- Sweden – Both Kinnevik and Saltside Technology are headquartered in Sweden, making it a primary geography of interest.
- Sri Lanka – Saltside operates the marketplace Ikman in Sri Lanka, indicating significant business interests in this region.
- Bangladesh – Saltside's marketplace Bikroy is based in Bangladesh, highlighting its regional operational footprint.
Industry
- Investment Management – Kinnevik is an investment management firm looking to divest its stake, which is typical in portfolio management and strategic reorientation activities.
- E-commerce/Online Marketplaces – Saltside Technology operates major online marketplaces, Ikman and Bikroy, aligning with the e-commerce sector.
Financials
- 45% – The percentage of stake Kinnevik aims to sell in Saltside Technology.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kinnevik | Selling Company (Vendor) | Company | A Swedish investment company seeking to sell its 45% stake in Saltside Technology. |
| Saltside Technology | Target Company | Company | Operates online marketplaces Ikman and Bikroy in Sri Lanka and Bangladesh, respectively. |