This lock up was due to expire on 22 April 2002. The 17,627,886 shares, representing 1.1 % of the issued share capital of Hilton, have been purchased by Deutsche Bank AG London who are placing them with institutional investors. As a result of this sale Ratos has no remaining holding in Hilton.
The sale of shares totals more than SEK 600m and gives Ratos an exit gain of approximately SEK 50m. The annual Internal Rate of Return (IRR) on Ratos investment in Hilton Group is somewhat less than 15 %. Ratos will receive a dividend for year 2001 of SEK 14m in June.
Ratos, Arne Karlsson, CEO + 46 (0)8 700 17 00
Hilton Group, Roger Devlin +44 (0)20 7856 8000
Deutsche Bank, Toby Clark / Mumtaz Naseem +44 (0)20 7545 8000