Kinnevik to distribute €5.5B Zalando stake to shareholders
February 18, 2021
Swedish investor Kinnevik plans to redistribute its €5.5 billion stake in online fashion retailer Zalando to its shareholders as it looks to increase its exposure to early-stage startups. Kinnevik owns a 21% stake in Zalando, which it first backed in 2010. Kinnevik retained a 31.6% holding in the company after it went public in 2014, but has since reduced its stake to finance investments in startups such as last-mile delivery company Budbee and online grocery retailer Kolonial.