The significant ägarkliven in AB Volvo for Cevian Capital took place in spring 2007, autumn 2011 and in March last year. It was at these times that primarily the strong voting shares were purchased for an activist fund, according to statistics from SIS owner service that reports the possession and purchase until the end of last year.
According to this report, which SvD Business watched, took Cevian then nearly 84.4 million A shares and almost 24.5 million B shares in AB Volvo, equivalent to 5.1 percent of the capital and around 13 percent of the vote.
Historical Statistics from SIS Ownership Service provides the suggests that Cevian Capital in October 2006 took 2.0 percent of the capital and more than 5 percent of the vote.
SvD Business has roughly what the significant purchases of around 105 million Volvo shares then cost Christer Gardell at the time of the acquisitions and what they buy, based on Monday’s share value, gives the profit or loss for Cevian Capital. Only great bargain November 29, 2011 are fortunate so far with an unrealized gain of $ 474 million.
Since the course of Volvo A and B differs relatively little about so we assumed the A-share price at the following the acquisition dates. It is also mainly just A shares Gardell put their hands on. As the current figure, we have used price of SEK 95, the level applying for shares during Monday afternoon.
April 26, 2007 increased Gardell ownership of approximately 35 million Class A shares. Cevian also acquired some time next one in this context less post B shares, namely 750 000 ones, which were sold a month later. Based on the closing price of the big supermarket April 26 closing price for Volvo shares, 131: 50 SEK.
In comparison with Monday’s rate of approximately SEK 95 is so far no brilliant deal and an unrealized foreign exchange loss of around 1.2 billion. Cevian Capital’s ownership at the end of this year amounted to around 39.7 million A shares, since activist fund that most owned 43,200,000 of such vote shares in late summer 2007.
Christer Gardell then sat quietly in the Volvo boat a long time. First, in late autumn 2013 was the second major purchase in the vehicle group. These were then, according to SIS Ownership Service, if an acquisition of 25 million A shares and almost 29.8 million B shares. This time, based on Monday’s Volvo course, had Gardell intuition and bought “cheap”. A Class A share that particular day, November 19, 2013, costing the Stockholm stock exchange closed 86:35 crowns.
In early 2014 took Cevian over 68,700,000 Class A shares and nearly 29.8 million Series B shares, which were purchased in November 2013. March 19, 2014, it was time again for a new hypermarkets. Then the collected Gardell 15.6 million Class A shares for their own firm’s behalf. The closing price then, 102 crowns, should be compared to Monday’s 95 crowns. Unrealized foreign exchange loss: 109 million.
According to information in Monday’s newspaper Dagens Industri is Christer Gardell, through Cevian Capital where the venture capitalist is a partner, now the largest shareholder in AB Volvo. Cevian has for years quietly plussat of ownership from 5.1 to over 8 percent of the capital and now holds nearly 15 percent of the vote, compared to about 13 percent at the end of last year.
Christer Gardell has confirmed the increased its ownership to Dagens Industri. Thus, Industrivärden no longer single largest shareholder. Cevian’s stake is now worth 16 billion.
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