Investment AB Kinnevik
Encyclopedia
Investment AB
Kinnevik is an investment company established in 1936 by Wilhelm Klingspor and Robert von Horn. They had just sold their sugar company and were left with a farming company Mellersta Sveriges Lantbruks AB and cash. Their lawyer was Hugo Stenbeck
. The lawyer got significant operating control over the company. Over time he acquired shares from his clients and eventually became the largest shareholder of the company. The old story of the lawyer becoming richer than the client again. The lawyer's son, Jan Stenbeck
, transformed the company into a modern holding company. Kinnevik is today one of the largest listed investment companies in Europe with total assets of $7 billion. Over the past 30 years Kinnevik has set up numerous entrepreneurial new businesses within media, telecoms and business services. A number of these businesses have then been spun off by means of dividend share issues to Kinnevik shareholders, and listed separately on Stock Exchanges in Europe and North America, such as the European mobile and fixed line operator Tele2
, The Scandinavian and Eastern European broadcasting group Modern Times Group MTG AB
, the leading global free newspaper company Metro International
, the European call center and debt collection company Transcom WorldWide
, the financial services group Invik & Co and finally the emerging market mobile telecommunications group Millicom International Cellular S.A.
with licenses in 17 countries. Kinnevik also wholly owns Korsnäs which is a carton board manufacturing business focused mainly on liquid packaging board.
Aktiebolag
Aktiebolag is the Swedish term for "limited company" or "corporation". When used in company names, it is abbreviated "AB" or "Ab"...
Kinnevik is an investment company established in 1936 by Wilhelm Klingspor and Robert von Horn. They had just sold their sugar company and were left with a farming company Mellersta Sveriges Lantbruks AB and cash. Their lawyer was Hugo Stenbeck
Hugo Stenbeck
Hugo Edvard Stenbeck was a Swedish lawyer and founder of Investment AB Kinnevik. He belonged to a group called in to investigate the collapse of Ivar Kreuger's financial empire. Two of his children became famous in their own right - Jan Stenbeck took over and transformed the family company and...
. The lawyer got significant operating control over the company. Over time he acquired shares from his clients and eventually became the largest shareholder of the company. The old story of the lawyer becoming richer than the client again. The lawyer's son, Jan Stenbeck
Jan Stenbeck
Jan Stenbeck was a Swedish media owner. He was brother of the former Swedish Minister for Foreign Affairs, Margaretha af Ugglas...
, transformed the company into a modern holding company. Kinnevik is today one of the largest listed investment companies in Europe with total assets of $7 billion. Over the past 30 years Kinnevik has set up numerous entrepreneurial new businesses within media, telecoms and business services. A number of these businesses have then been spun off by means of dividend share issues to Kinnevik shareholders, and listed separately on Stock Exchanges in Europe and North America, such as the European mobile and fixed line operator Tele2
Tele2
Tele2 AB is a major European telecommunications operator, with about 34 million customers in 11 countries. It serves as a fixed-line telephone operator, cable television provider, mobile phone operator and Internet service provider.- Overview :...
, The Scandinavian and Eastern European broadcasting group Modern Times Group MTG AB
Modern Times Group
Modern Times Group is a Swedish media company. MTG was formed out of the media holdings of investment company Kinnevik, which in 1997 was distributed to the company stockholders. Among the assets were Viasat and Metro International...
, the leading global free newspaper company Metro International
Metro International
Metro International is a Swedish media company based in Luxembourg that publishes the Metro newspapers. Metro International's advertising sales have grown at a compound annual growth rate of 41% since launch of the first newspaper edition in 1995. It is a freesheet, meaning that distribution is...
, the European call center and debt collection company Transcom WorldWide
Transcom WorldWide
Transcom WorldWide S.A. a global outsourced service provider entirely focused on customers, the service they experience and the revenue they generate. Transcom's customer management and credit management services are designed to strengthen clients’ customer relationships and secure their revenue...
, the financial services group Invik & Co and finally the emerging market mobile telecommunications group Millicom International Cellular S.A.
Millicom
Millicom International Cellular, also known as Tigo, is a mobile phone network provider in America and Africa. Based in Luxembourg, the company provides mobile services in 14 countries. With operations across Central America, South America, South-east Asia, and Africa, using GSM, CDMA and TDMA on...
with licenses in 17 countries. Kinnevik also wholly owns Korsnäs which is a carton board manufacturing business focused mainly on liquid packaging board.
Quick facts
- Performance - Since 1976, Kinnevik’s shares have generated an average effective yield of almost seventeen per cent per year through higher share prices and dividends, as well as the value of the offer to subscribe for shares.
- Market value of the Group's holdings of listed securities: SEK 37 800 million ($5.4 billion) in the beginning of 2007.
- Book valueBook valueIn accounting, book value or carrying value is the value of an asset according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization or Impairment costs made against the asset. Traditionally, a company's book value...
(balance sheet shareholders' equity) of unlisted holdings: SEK 11 800 million (including "interest bearing net debt"?)
Operating companies
- Korsnäs Holding AB
- Mellersta Sveriges Lantbruks AB (MSLA)
- Förvaltnings AB Eris & Co
- Relevant Traffic Europe AB
Listed holdings
In order of size- Millicom International Cellular S.A.MillicomMillicom International Cellular, also known as Tigo, is a mobile phone network provider in America and Africa. Based in Luxembourg, the company provides mobile services in 14 countries. With operations across Central America, South America, South-east Asia, and Africa, using GSM, CDMA and TDMA on...
- Tele2Tele2Tele2 AB is a major European telecommunications operator, with about 34 million customers in 11 countries. It serves as a fixed-line telephone operator, cable television provider, mobile phone operator and Internet service provider.- Overview :...
- Transcom WorldWide AB
- Metro InternationalMetro InternationalMetro International is a Swedish media company based in Luxembourg that publishes the Metro newspapers. Metro International's advertising sales have grown at a compound annual growth rate of 41% since launch of the first newspaper edition in 1995. It is a freesheet, meaning that distribution is...
- Modern Times Group MTG ABModern Times GroupModern Times Group is a Swedish media company. MTG was formed out of the media holdings of investment company Kinnevik, which in 1997 was distributed to the company stockholders. Among the assets were Viasat and Metro International...
- BBned NV
- Kontakt East Holding
Other investment companies
- Berkshire HathawayBerkshire HathawayBerkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
- Investor ABInvestor ABInvestor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family through their foundation asset management company FAM. The company owns a controlling stake in several large Swedish companies with smaller positions in a number of other firms. In 2006 it had...
- Liberty Media Corporation