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Wallenberg family issues green bonds and targets for Electrolux

March 26, 2019

The Swedish family controlled appliance giant Electrolux is setting the benchmark on sustainability with its launch of green bonds this week and ambitious renewable targets on track for 2020.

The Swedish family controlled appliance giant Electrolux is setting the benchmark on sustainability with its launch of green bonds this week and ambitious renewable targets on track for 2020.

The world’s fifth largest consumer goods manufacturer issued the first bond loan within its green bond framework, raising SEK 1 billion ($108.4 million) to fund investments and other projects with environmental benefits.

FB Roundup: Grosvenor, Maersk, Kinnevik, and Electrolux

August 24, 2018

Grosvenor’s Wheatsheaf invests in Australian AgTech firm, Maersk makes pioneering Arctic voyage, and three family-backed investors take stake in Swedish food app Karma.

Grosvenor’s Wheatsheaf takes £8m stake in AgTech firm

Britain’s wealthiest land-owning family has completed an £8 million ($10.3 million) transaction for a minority stake in AgriWebb, the Australian market leader in livestock farm management software.

Industrial Foundations: The imperfect solution to long-term prosperity?

August 1, 2018

Industrial foundations lock up generations of family wealth. But what they lack in flexibility they compensate in prospects for long-term prosperity. Scott McCulloch reports

Industrial foundations lock up generations of family wealth. But what they lack in flexibility they compensate in prospects for long-term prosperity. Scott McCulloch reports

Foundations have deep roots in privately-held enterprises, especially in northern Europe’s high-tax jurisdictions. The business model is imperfect, but goes a fair way towards preserving multigenerational wealth.

FB Roundup: LG Group, Swedish families back ‘creative Davos’, LVMH-backed fund L Catterton

May 23, 2018

LG Group chairman dies, prominent Swedish families back ‘creative Davos’, LVMH-backed funds buys into Indian retailer

Transformational LG Group chairman Koo Bon-moo dies

The influential chairman of South Korea’s LG Group, who helped transform the company into a technology heavyweight, has passed away after a battle with brain disease.

Third-generation leader Koo Bon-moo, 73, had been ill for a year, LG said in a statement, and had refused life support.

A growing slice of the pie: Private equity and the family office

September 12, 2016

Private equity has a special pull for families used to running operating businesses. But with record levels of assets committed to private equity funds is it the best asset class to drive returns?

Private equity has a special pull for families used to running operating businesses. But with record levels of assets committed to private equity funds is it the best asset class to drive returns?

The plotline is one that has been played out countless times before. A family has made its wealth in an operating business, has exited and is now running a family office. Do they sit back and take a diversified approach to their wealth or eventually get itchy feet and pour their assets back into the sector they know best?

I’d like to teach the world to fish: Percy Barnevik on addressing poverty

March 31, 2016

Percy Barnevik made his name heading up one of the largest family-controlled businesses in Europe, but in his retirement it is microenterprises where he has focused his attention. Jessica Tasman-Jones caught up with the former executive to find out how his foundation, Hand in Hand International, is addressing poverty one job at a time

The solution to a great deal of the world’s problems is jobs, argues Percy Barnevik. “In Egypt 75% of the students don’t get a job. The young men sit in the cafés in Cairo, unhappy, angry, they can’t support themselves, let alone a small family.” This breeds anger and they become prey for the Muslim Brotherhood and all types of violent organisations, says the former business executive. “The problem is not Islam, not the Bible, the problem is not religion. The problem is poverty and hopelessness.”

Swedish financier Peter Wallenberg dies at 88

January 20, 2015

Peter Wallenberg, the Swedish financier who helmed one of Europe’s largest corporate dynasties for 15 years, has died at the age of 88 in Stockholm County.

Peter Wallenberg, the Swedish financier who helmed one of Europe’s largest corporate dynasties for 15 years, has died at the age of 88 in Stockholm County.

The elder statesman took over the Wallenberg family business following the death of his father in 1982 – a move that many believed would bring about the end of the family’s century-long dominance of the Swedish banking and industrial sectors.

Wallenberg family office supports Electrolux acquisition of GE Appliances

September 9, 2014

The family office behind Swedish banking dynasty, the Wallenbergs, has given their stamp of approval on a recent deal by publicly-listed Electrolux, in which they are the largest shareholder, to buy General Electric’s US appliance business for $3.3 billion (€2.5 billion).

In a statement, the Wallenberg family office, Investor, which holds 15.5% of the capital and 30% of voting shares in Electrolux, said it fully supports the transaction and is looking forward to seeing the brand increase its foothold in North America.

Swedish family dynasty given IPO boost

August 26, 2010

Sweden’s most famous family dynasty, the Wallenburgs, could be big beneficiaries from its investment in ISS, one of the world’s largest facility service providers, after the privately-owned company announced it was considering an initial public offering.

Sweden's most famous family dynasty, the Wallenburgs, could be big beneficiaries from its investment in ISS, one of the world's largest facility service providers, after the privately-owned company announced it was considering an initial public offering.

The Wallenburg family owns 55% of ISS, a stake it acquired in May 2005, through its private equity vehicle EQT.

Swedish family sells Scania shares to Volkswagen

March 3, 2008

Volkswagen has increased its stake in truck manufacturer Scania to 68.6% after buying the shares from a powerful Swedish family.

Volkswagen has increased its stake in truck manufacturer Scania to 68.6% after buying the shares from a powerful Swedish family. The Wallenbergs, who held a 30% stake through industrial holding firm Investor AB and the Wallenberg Foundation, sold their shares to the German carmaker for €21 per share.