Gambro concludes sale of ABB shares

Gambro concludes sale of ABB shares The sale of ABB AB Series A shares to Gambro's shareholders is now concluded. The shares were offered at a discount. The price was SEK 55 per ABB share. The shares sold, more than 113 million Series A shares, represent about 12.1% of the share capital and about 16.3% of the votes in ABB AB, and amounts to 99.4% of the total number of shares offered to Gambro shareholders. The sale was the final step in the streamlining of the Group into a purely medical-technology company. The sale generated proceeds of about SEK 6.2 billion, with a positive pre-tax earnings effect in the Group of about SEK 4.0 billion. The positive earnings effect after taxes is estimated to about SEK 1.8 billion. The tax charge is estimated to about SEK 2.2 billion based on applying the so-called standard rule and will be paid in the beginning of 1999. The divestment resulted in a cash contribution (including the new issue) to the Group, whereby net debt was reduced by about SEK 4.3 billion (after taking into account the estimated tax expense). Gambro's holding in ABB AB after the sale amounts to about 4.4 million Series A shares, corresponding to 0.5% of the share capital and 0.6% of the votes. For further information: Bengt Modéer, Senior Vice President, Corporate Communications, +46-8-613 65 00, +46-70-513 65 33 Gambro is an international medical-technology group with revenues of approximately SEK 18 billion and about 17,000 employees in some 40 countries.