BTS Group AB
Jul 31, 2017

BTS establishes new venture in Argentina to strengthen position in Latin America

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Stockholm, Sweden, 2017-07-31 08:00 CEST (GLOBE NEWSWIRE) --  

STOCKHOLM, SWEDEN - BTS GROUP AB (publ) - BTS, a leading global strategy implementation firm, has reached an agreement with Alberto Franichevich, a prominent Professor at IAE Business School and well established strategy consultant with an extensive network within corporate HR and general management, to open a business venture in Argentina. The new company will be majority owned by BTS whilst Alberto will own a minority share.

Alberto has agreed to remain as a Director of the venture until 2022, when BTS has committed to acquire the remaining shares in the company at a performance based price. BTS Argentina will be consolidated as of 1st of September 2017.

The newly created entity will be focused on the Argentinian market and offer a range of the BTS services to new local as well as global clients, thereby strengthening the Latin American franchise of BTS. Argentina is today a sizeable market with a positive development and BTS has a good starting position through a number of major clients in the market.

Dr. Philios Andreou, President of BTS Other Markets comments;

"Alberto is an experienced professional in our field and he is a strong advocate of BTS's methods and shares our vision. We are proud to have him on board to help us build profitable growth in an exciting marketplace. With this joint venture, BTS's position in Latin America improves as it gives us immediate access to the growing Argentinean market while it allows us to diversify operations in Latin America." 

 

For more information, please contact:

Michael Wallin
Investor relations

BTS Group AB
E-mail: michael.wallin@bts.com
Mobile: +46 708-788 019

 

About BTS Group AB

BTS is a global professional services firm headquartered in Stockholm, Sweden, with some 500 professionals in 35 offices located on six continents. We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For 30 years, we've been designing fun, powerful experiences that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It's strategy made personal.

We serve a wide range of client needs, including:

-              Assessment centers for talent selection and development

-              Strategy alignment and execution

-              Business acumen, leadership and sales training programs

-              On-the-job business simulations and application tools.

We partner with nearly 450 organizations, including over 30 of the world's 100 largest global corporations. Our major clients are some of the most respected names in business: Chevron, Citigroup, Coca-Cola, Microsoft, Novartis, Salesforce, SAP, Tencent and Volvo Group.

BTS is a public company listed on the Nasdaq Stockholm and trades under the symbol BTS B.

For more information, please visit www.bts.com

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.

This information is information that BTS Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on July 31st 2017.