1970s

1970.  Kinnevik’s subsidiary Invik takes over the shares in Amerikanska Motor Importen and Partnerintressenter and becomes the parent company of a small industrial group. The following year, Kinnevik doubles its share capital (from SEK 24 million to SEK 48 million) by increasing the book value of the holdings in Korsnäs-Marma and Sandvik AB.

1976.  On 15 March, Hugo Stenbeck Jr dies. His younger brother, Jan Hugo Stenbeck, takes part in the management group together with associate professor Nils Landqvist and Arne Westerberg, president of Sandvik AB as well as Kinnevik.

A chemical pulpmill in the late 30's.

1977.  On 4 January, Hugo Stenbeck Sr dies. Count Carl-Gustaf Klingspor, son of Wilhelm Klingspor, is appointed chairman of the board. The shareholding in Sandvik AB is steadily expanded through bonus issues until Kinnevik owns just over one million shares (while Korsnäs owns 985,000).

1978.  59,000 Sandvik AB shares are exchanged for 141,500 shares in Fagersta AB. Almost 35,000 shares in the insurance company Atlantica are also acquired. Closer collaboration between Sandvik AB and Fagersta AB is discussed. Finvik is formed with a view to managing Kinnevik’s and Invik’s cash assets, receivables and financial contracts. Kinnevik now controls companies with around 35,000 employees. The property at Skeppsbron 18 in Stockholm is purchased at this time.

1979.  Investment AB Kinnevik exercises an option to acquire further 141,500 shares in Fagersta AB from AB Industrivärden in exchange for 59,000 shares in Sandvik AB.