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Sandvik completes sale of Hyperion to KKR

Engineering company Sandvik AB completed the 4 billion-Swedish-kronor sale of its Hyperion tool component manufacturing unit to private equity firm KKR & Co. LP

Hyperion will be de-consolidated from Sandvik as of July 2, and Sandvik's financial statements will reflect a capital gain worth approximately 1 billion kronor.

As of June 29, US$1 was equivalent to 8.96 Swedish kronor.