Investment AB Öresund
Encyclopedia
Investment AB Öresund is a Swedish
investment company
controlled by Mats Qviberg
and Sven Hagströmer
.
. Skandia paid in cash and in shares. Thus, the company became an investment company and was renamed Investment AB Öresund. It was listed on the stock exchange
in 1962.
. Öresund became their weapon in an assault on a number of Swedish companies, including AB Custos
. Many more traditionalist Swedish businessmen were upset by the success of the two businessmen. Percy Barnevik
served on the board of directors
of Custos at the time when Öresund started acquiring shares and he was bitterly upset with their actions.
company Fabege (previously known as Wihlborgs, 16 % of Öresund's portfolio), Nobia and major Volvo
retailer Bilia (both 10 %). Other large holdings include shares of Investor AB
(5 %), Alfa Laval
(3 %) and of course Hagströmer & Qviberg (5 %).
In total the company controls almost 8 billion krona
worth of stock.
and largest shareholder with 18 % of the shares. Meanwhile, Qviberg serves as chief executive officer
and owns 13 % of Öresund. Despite its name, alluding to the Öresund Region
, the company is based in Stockholm
.
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
investment company
Investment company
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
controlled by Mats Qviberg
Mats Qviberg
Mats Qviberg is a Swedish businessman. Together with his close business partner Sven Hagströmer, Qviberg is in control of a group companies which, among others, include Hagströmer & Qviberg and Investment AB Öresund....
and Sven Hagströmer
Sven Hagströmer
Sven Johan Gösta Barthen Hagströmer is a Swedish financier and businessman. Together with his business partner Mats Qviberg, he controls a group of companies including HQ Bank, Avanza Bank and Investment AB Öresund....
.
History
The original company was founded in 1890 as Sjöförsäkringsaktiebolaget Öresund. In 1956 the company was reorganised and AB Sjö-Öresund became the main company in a group of insurance companies. In 1961 these subsidiaries were sold to SkandiaSkandia
Skandia is a Swedish insurance company that was started in 1855. It has operations in Europe, Latin America, Asia and Australia. Skandia also operates an internet bank called Skandiabanken....
. Skandia paid in cash and in shares. Thus, the company became an investment company and was renamed Investment AB Öresund. It was listed on the stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
in 1962.
Under Hagströmer and Qviberg
In 1993, Öresund was taken over by Sven Hagströmer and Mats Qviberg. They had started building a group of companies around Hagströmer & QvibergHagströmer & Qviberg
HQ AB is a Swedish finance and banking corporation founded by Sven Hagströmer and Mats Qviberg, and which is currently being liquidated after having had its banking licence revoked on August 28, 2010.-History:...
. Öresund became their weapon in an assault on a number of Swedish companies, including AB Custos
AB Custos
AB Custos is a Swedish investment company. It came under the control of investors Mats Qviberg and Sven Hagströmer and was merged with their investment company Investment AB Öresund in 2004. Later, it was separated from Öresund again. Today Öresund is the second largest shareholder with 17 % of the...
. Many more traditionalist Swedish businessmen were upset by the success of the two businessmen. Percy Barnevik
Percy Barnevik
Percy Nils Barnevik is a Swedish business executive, best known as CEO and later Chairman of Asea Brown Boveri 1988–2002, and for being the centre of a giant pension dispute that shook Sweden in 2003.-Background:...
served on the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Custos at the time when Öresund started acquiring shares and he was bitterly upset with their actions.
Listed holdings
Öresund's largest holdings are real estateReal estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
company Fabege (previously known as Wihlborgs, 16 % of Öresund's portfolio), Nobia and major Volvo
Volvo
AB Volvo is a Swedish builder of commercial vehicles, including trucks, buses and construction equipment. Volvo also supplies marine and industrial drive systems, aerospace components and financial services...
retailer Bilia (both 10 %). Other large holdings include shares of Investor AB
Investor AB
Investor 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...
(5 %), Alfa Laval
Alfa Laval
Alfa Laval AB is a Swedish company, founded in 1883 by Gustaf de Laval and Oscar Lamm. The company is a leading producer of specialized products and solutions used to heat, cool, separate and transport such products as oil, water, chemicals, beverages, foodstuffs, starch and...
(3 %) and of course Hagströmer & Qviberg (5 %).
In total the company controls almost 8 billion krona
Swedish krona
The krona has been the currency of Sweden since 1873. Both the ISO code "SEK" and currency sign "kr" are in common use; the former precedes or follows the value, the latter usually follows it, but especially in the past, it sometimes preceded the value...
worth of stock.
Organisation and ownership
Sven Hagströmer is the chairmanBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
and largest shareholder with 18 % of the shares. Meanwhile, Qviberg serves as chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and owns 13 % of Öresund. Despite its name, alluding to the Öresund Region
Oresund Region
The Øresund or Öresund Region is a transnational region in northern Europe, centred on the cities of Copenhagen and Malmö. Located by the shores of the Øresund strait and connected by the Oresund Bridge, the Capital Region of Denmark and Region Zealand constitute the Danish side, while Skåne...
, the company is based in Stockholm
Stockholm
Stockholm is the capital and the largest city of Sweden and constitutes the most populated urban area in Scandinavia. Stockholm is the most populous city in Sweden, with a population of 851,155 in the municipality , 1.37 million in the urban area , and around 2.1 million in the metropolitan area...
.