Kinnevik AB facts for kids

Quick facts for kids
Kinnevik AB

Type	Aktiebolag
Traded as	OMX: KINV B
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=SE0014684510 SE0014684510 ISIN: SE0014684528 ]
Industry	Investment
Founded	1936; 89 years ago (1936)
Founders	Hugo Stenbeck Wilhelm Klingspor Robert von Horn
Headquarters	Stockholm, Sweden
Key people	James Anderson (Chairman) Georgi Ganev (CEO) Samuel Sjöström CFO)

Kinnevik AB is a Swedish company that invests in other businesses. It was started in 1936 by the Stenbeck, Klingspor, and von Horn families. Kinnevik likes to be an active and long-term owner. They mostly invest in companies that use digital technology to reach customers.

Georgi Ganev became the CEO (Chief Executive Officer) of Kinnevik in 2018. Kinnevik owns parts of more than 35 companies. They invest in businesses across Europe and the United States. Kinnevik focuses on four main areas: healthcare, software, online marketplaces, and climate technology. Their biggest investment is in a company called Tele2.

Kinnevik's Story: How It Grew

Starting Out in 1936

Kinnevik began as an investment company in 1936. It was founded by Robert von Horn, Wilhelm Klingspor, and Hugo Stenbeck. When it first started, Kinnevik owned parts of companies like Mellersta Sveriges Lantbruks AB and Korsnäs Sågverks AB.

The company grew quickly by buying shares and other businesses. These included chocolate manufacturers like Nordiska Suchard. Hugo Stenbeck slowly bought more shares in Kinnevik.

Becoming a Public Company

Kinnevik became a public company in 1954. This meant people could buy shares in it on the stock market. A few years later, Kinnevik bought its first shares in Sandvikens Järnverk.

In the early 1960s, Hugo Stenbeck became the chairman of Kinnevik. His oldest son, Hugo Stenbeck Jr., became the managing director.

New Leaders and New Investments

Hugo Stenbeck Jr. passed away in 1976. His younger brother, Jan Hugo Stenbeck, then joined Kinnevik's leadership team. Hugo Stenbeck Sr. passed away in 1977.

In the late 1970s, Kinnevik bought more shares in Sandvik AB. They also increased their ownership in Fagersta AB. In 1978, they bought a large part of the insurance company Atlantica. In 1980, Kinnevik bought several car companies. These were grouped under the name Svenska Motor AB. This included importing and selling Toyota cars.

Entering the World of Telecom and Media

In the early 1980s, Kinnevik's company Comvik AB started a new mobile phone system. After some legal challenges, they won the right to operate. In 1985, Kinnevik launched a satellite system for TV.

By the late 1980s, Kinnevik was challenging state-owned companies. They wanted to offer their own phone, TV, and radio services. TV3, a channel from Kinnevik, started broadcasting from London on New Year's Eve 1987. Comvik was allowed to start a new mobile phone network in 1989. The company Millicom International Cellular was formed the next year.

Expanding Media and Internet Businesses

Kinnevik started its first radio broadcasts in 1991. In the same year, Kinnevik became the biggest owner of the new TV4 channel. They owned 20 percent of it. The free newspaper Metro International was launched in 1995. This idea quickly spread around the world.

Tele2 was founded in 1993. It was listed on the Stockholm stock exchange in 1996.

In 1995, MTG became a separate company under Kinnevik. Before that, it was just a part of Kinnevik's business. MTG became its own company in 1997. Its shares were listed in Stockholm and New York.

Changes in Leadership and Focus

Jan Hugo Stenbeck passed away on August 19, 2002. Edvard von Horn became the chairman. Pehr G. Gyllenhammar became chairman in 2004. Three years later, Cristina Stenbeck took over as chairman. In March 2016, Cristina Stenbeck decided to step down as chairman. Tom Boardman replaced her at the 2016 annual meeting. Cristina Stenbeck still serves on Kinnevik's board.

Between 2005 and 2010, Kinnevik changed its investments. They owned more of Millicom and less of forestry companies. During this time, they started investing in internet businesses. Many of these were e-commerce companies. After 2010, they invested even more in companies like Rocket Internet, Zalando, Avito, and Global Fashion Group.

In 2013, Kinnevik sold all its shares in BillerudKorsnäs. Zalando and Rocket Internet, two companies Kinnevik supported, started selling their shares to the public in 2014. In October 2015, Avito was sold to a South African company called Naspers. In 2017, Kinnevik sold its remaining shares in Rocket Internet.

Kinnevik Today

Georgi Ganev became the CEO of Kinnevik in January 2018. James Anderson was appointed Chairman of Kinnevik at the Annual General Meeting in 2021.

In 2018, Kinnevik supported the merger of Tele2 and Com Hem. Later that year, Kinnevik also gave its shares in MTG to its own shareholders. In 2018, Kinnevik also invested more in Livongo. They also invested in Kolonial.no, Karma, BudBee, Pleo, Deposit Solutions, Cedar, and Monese.

In 2019, Kinnevik gave its remaining shares in Millicom to its shareholders.

In 2021, Kinnevik gave its Zalando shares to its shareholders. This helped them focus more on newer, fast-growing technology companies.

In 2023, Kinnevik sold its remaining shares in Teladoc.

Major Investments

As of March 31, 2023, Kinnevik's total value was 55.5 billion Swedish Kronor (SEK). Here are their largest investments:

Who Owns Kinnevik?

As of May 5, 2023, here are the companies and groups that own the most votes in Kinnevik:

See also

In Spanish: Kinnevik AB para niños