Skandia Investment takes in new part-owner
Skandia Investment takes in new part-owner Since 1983 Skandia Investment has been making direct investments in unlisted companies as a Skandia group subsidiary. During these fifteen years nearly 80 minority investments have been made in expanding companies, of which some 20 were eventually led forward to a stock market listing. The average annual return on invested capital during the last five-year period was 69 per cent. In light of Skandia Investment's successful development, Skandia has now - together with the National Swedish Pension Insurance Fund (4th Board), Handelsbanken Life, ICA Finans and Orkla ASA - formed the new Skandia Investment with committed capital of SEK 1 billion. Skandia will account for 60 per cent of the capital and the other investors for 10 per cent each. The aim is to expand the opportunities for long-term investments in unlisted Nordic growth companies which could be listed on the stock market within a five-year period. "It is gratifying that Skandia Investment is perceived by selected institutional investors as an attractive asset manager with good potential for generating high returns," comments Bo Ingemarson, Chairman of Skandia Investment. For the first time in several years, ICA is now making such an investment: "We view Skandia as a professional and active asset manager. Naturally we expect to receive a good return on our investment," says Ulf Nyström, Chief Financial Officer of ICA Handlarnas AB. Continue "Through our new part-owners we gain greater resources and opportunities to create growth in value, which will continue to be achieved through an active and long-term involvement in the portfolio companies," comments Christer Dahlström, President of Skandia Investment. For further questions, please contact: Christer Dahlström, President of Skandia Investment, tel. +46-8-788 13 60 Bo Ingemarson, Chairman of Skandia Investment and Executive Vice President, Skandia, tel. +46-8-788 45 77 Katarina Mohlin, Senior Vice President and head of Corporate Communications, Skandia, tel. +46-8-788 48 86