Volati AB: Volati changes its ownership of me&i
The change means that Volati is entitled to receive up to SEK 78 million in future payments from me&i. After the change in ownership, the carrying amount of Volati's preference shares and receivables is SEK 12 million and Volati no longer consolidates me&i. In connection with the interim report for January-September 2019, Volati announced an impairment loss for me&i, based on the low profit trend expected for me&i in the medium term. The change in ownership is not expected to have any significant impact on Volati's earnings for 2019.
"It is Volati's ambition to be a long-term owner of the companies we invest in. However, in the case of me&i, we have made the assessment that the company has better scope for successful development in a different ownership configuration. The company has a history of profitability and competent management. We wish me&i good luck in the next phase of their development, and hope that our decision will ultimately bring Volati a certain positive earnings effect," says Volati CEO Mårten Andersson.