2000. Kinnevik’s A and B shares are listed on Nasdaq in New York. Kinnevik-owned Transcom AB merges with Transcom WorldWide S.A. The TV1000 operations are sold to MTG. SEC purchase rights are issued to the shareholders. Kinnevik transfers its SEC shares to NetCom AB. In August, MTG distributes all shares in Metro to its shareholders, making Kinnevik one of the major Metro shareholders. Capital gains come to SEK 762 million.
2001. In the autumn, Kinnevik takes part in the Metro International S.A. private placement, thereby increasing its holding to 14.5 per cent of the votes. Transcom is spun-off and its shares are distributed to the shareholders and listed on Nasdaq in New York, as well as the Stockholm Stock Exchange’s O list. NetCom AB changes its name to Tele2 AB. Invik acquires the remaining 50 per cent of the shares of Fischer Partners Fondkommission AB.
2002. On 19 August Jan Hugo Stenbeck passes away. Edvard von Horn becomes Chairman of the Board of Directors of Kinnevik. Kinnevik reaches an agreement with Sveaskog on the sale of 200,000 hectares of productive forestland, corresponding to one third of Korsnäs’s forests, and its sawmill operations. The asset management, which within Invik has been organised in different operating entities, are integrated under Modern Privat Kapitalförvaltning MPK AB.
2003. Kinnevik enters into an agreement with Trancsom WorldWide S.A. on the sale of CIS Credit International Services AB’s debt collection business to Transcom. In December it is announced that the forestry of Kinnevik and Stora Enso will be combined in a new company, Bergvik Skog AB. Korsnäs maintains about 15,000 hectares of special land and rights. Invik closes down its brewery business.
2004. On 16 February it is announced that the Boards of Invik & Co. AB and Industriförvaltnings AB Kinnevik have prepared a joint merger plan for the companies. In July the merger is completed and at the Extraordinary Meeting on 26 August it is decided that the company’s name should be changed to Investment AB Kinnevik. At the same time Pehr G Gyllenhammar is elected as Chairman. In September, the name of the subsidiary Modern Finance Group, comprising Banque Invik, Modern Insurances, Invik Asset Management and Fischer Partners, is changed to Invik & Co. AB.
In March Kinnevik’s subsidiary Korsnäs AB finalizes the sale of its Swedish forestland, the transaction provides Korsnäs with SEK 3,050 million and 5.0% of the shares in Bergvik Skog.
Up until November Kinnevik increases its holding in Millicom through conversion, acquisition and new share issue. Following the transactions, Kinnevik holds 35.7% of the capital and votes in Millicom.
2005. On 15 November Korsnäs AB enters into an agreement with Sveaskog Förvaltnings AB for the acquisition of its subsidiary AssiDomän Cartonboard Holding AB (“Frövi”) for a total consideration of SEK 3,650 million in cash on an enterprise value basis. The acquisition fits well into Korsnäs’ successful operation within advanced highly refined board and paper products for the packaging industry, the industrial logic of the transaction is strong and the synergies between Korsnäs and Frövi are significant. The transaction is subject to approval by competition authorities.
During the years, the synergies between Korsnäs Industrial and Korsnäs Packaging have declined and against this background Kinnevik decides to divest Korsnäs Packaging. On 15 December Kinnevik enters into an agreement to sell Korsnäs Packaging to the Russian packaging group JSC Segezha Pulp and Paper Mill for a total consideration of EUR 73.5 million (SEK 693 million) in cash on an enterprise value basis. The transaction is subject to approval by competition authorities.
2006. During the first half of the year, Millicom’s Board conducts a strategic review of the company’s potential but the review does not lead to any sale of the company. Millicom’s share price rises 121% – from USD 27.9 to USD 61.6 – from 18 January, the day before the strategic review was announced, to 31 December.
On 1 August, Mia Brunell assumes the position as President and CEO of Kinnevik. Mia Brunell succeeds Vigo Carlund, who retires after 37 years of employment at Kinnevik, seven of which were served as President and CEO.
2007. In May, Cristina Stenbeck succeeds Pehr G Gyllenhammar as Chairman of the Board.
Following Kinnevik’s conversion in January of all of its promissory notes in Invik with a nominal amount of SEK 235 million to shares, an agreement is reached in April with the Icelandic investment firm Milestone ehf. (”Milestone”) for the sale of the same shares for a payment of SEK 1,089 million. Kinnevik’s agreement with Milestone ensures that Invik’s other shareholders is offered to sell their shares at the same price that Kinnevik sold its shares. The transaction is concluded on 28 June, after approval from the relevant financial supervisory authorities.