Kindred’s Board of Directors agrees to undergo strategic review

April 26, 2023
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Kindred has announced a strategic review on same day as its Q1 results.

Kindred has reported positive numbers in its Q1 results. The company saw £305.4m ($381m)  in revenue for the first quarter of the year, a 24% rise from Q1 2022.

But this seems to be no time for slowing down as The Board of Directors at Kindred has unanimously decided to initiate a process in which to explore strategic alternatives for the company.

Kindred has a range of brands and assets to its name and is focused on maximizing the value of these assets for  company shareholders.

The operator is open to a number of possible methods of strategies to achieve what it believes is best for the company, and can deliver the best value for its shareholders. These methods could include a merger or sale of the company, with part and full sales being considered, as well as other potential strategies.

To assist in the review of these strategic changes, The Board of Directors has retained the services of PJT Partners, Morgan Stanley & Co, International PLC and Canaccord Genuity as financial advisors. In addition to this, it has also enlisted the guidance of White & Case, which has been appointed as a legal advisor for the review process.

As things stand, there has been no timeframe attached to this review, as Kindred appears to look for the best solution and not just the fastest one. Kindred is under no obligation to post any update regarding the review until the decisions are finalized by The Board of Directors.

Following its Q1 report, Kindred's share price rose to SEK 123.55 ($12).


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