Investment AB Öresund is a Swedish

investment company An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under th ...

controlled by Mats Qviberg and

Sven Hagströmer Sven Hagströmer (born 30 November 1943) is a Swedish business executive, best known as the founder of Avanza Bank and investment company Creades. He is also the initiator of the non-profit organizations AllBright and Berättarministeriet. Bio ...

. Larger holdings in 2018 were Fabege, Bilia, Scandi Standard and Catena Media.

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 Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

. In 1961 these subsidiaries were sold to

Skandia Skandia is a Swedish financial services corporation that provides insurance, banking and asset management services. Between 2006 and 2015, the financial group underwent major changes. From an insurance company with the main emphasis on non-l ...

. 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 A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

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 & Qviberg. Öresund became their weapon in an assault on a number of Swedish companies, including

AB Custos AB Custos is a Sweden, Swedish investment company. In 2004, it came under the control of investors Mats Qviberg and Sven Hagströmer and was merged with their investment company Investment AB Öresund, before being subsequently demerged. The large ...

. Many more traditionalist Swedish businessmen were upset by the success of the two businessmen.

Percy Barnevik Percy Nils Barnevik HonFREng (born 13 February 1941) is a Swedish business executive, best known as CEO and later Chairman of ABB 1988–2002, and for being the centre of a giant pension dispute that shook Sweden in 2003. He is the co-founder o ...

was on the

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

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 estate company ''Fabege'' (previously known as ''Wihlborgs'', 16% of Öresund's portfolio), ''Nobia'' and major

Volvo The Volvo Group (; legally Aktiebolaget Volvo, shortened to AB Volvo, stylized as VOLVO) is a Swedish multinational manufacturing corporation headquartered in Gothenburg. While its core activity is the production, distribution and sale of truck ...

retailer ''Bilia'' (both 10%). Other large holdings include shares of

Investor AB Investor AB is a Swedish investment and holding company, often considered a ''de facto'' conglomerate. One of Sweden's largest companies, Investor AB serves as the investment arm of the prominent Swedish Wallenberg family; the family's compani ...

(5%),

Alfa Laval Alfa Laval AB is a Swedish company, founded in 1883 by Gustaf de Laval and Oscar Lamm. The company started by providing centrifuges to dairies to be used to separate cream from milk. It now deals in the production of specialised products ...

(3%) and of course ''Hagströmer & Qviberg'' (5%). In total the company controls almost 8 billion krona worth of stock.

Organisation and ownership

Sven Hagströmer is the

chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

and largest shareholder with 18% of the shares. Meanwhile, Qviberg is

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and owns 13% of Öresund. Despite its name, alluding to the Öresund Region, the company is based in

Stockholm Stockholm (; ) is the Capital city, capital and List of urban areas in Sweden by population, most populous city of Sweden, as well as the List of urban areas in the Nordic countries, largest urban area in the Nordic countries. Approximately ...

References

{{DEFAULTSORT:Investment AB Oresund Financial services companies established in 1961 Investment companies of Sweden Companies based in Stockholm