Finnish industrial company Metso Oyj (HEL:METSO) announced on Monday that the members nominated to its shareholders' nomination board are Petter Soderstrom, Investment director, Solidium Oy, representing 22,374,869 shares and votes, or 14.88% of share capital and votes; Niko Pakalen, partner, Cevian
Capital Partners Ltd, representing 20,813,714 shares and votes, or 13.84% of share capital and votes; Mikko Mursula, deputy CEO, Ilmarinen Mutual Pension Insurance Company, representing 4,433,253 shares and votes, or 2.95% of share capital and votes and Risto Murto, president and CEO, Varma Mutual Pension Insurance Company, representing 2,848,465 shares and votes, or 1.89% of share capital and votes.
Spiesshofer was under pressure from major investors, and his nearly six-year stint at the helm of ABB was marked by meager stock returns and a public row with an activist shareholder, Cevian
A report out earlier this week showed Cevian
Capital lowering their active stake in the company to 9.24% from 10.01%.
Christer Gardell, managing partner at activist investor Cevian
Capital, which holds 2.3 percent of shares in Nordea, told Reuters he welcomed the appointment.
Kevin Swedish investment firm funds, Cevian
Capital Partners Limited and Cevian
Capital II Co-Investment Fund L.P., have announced the acquisition of 2.3% of holding shares of Finland-based Nordea Bank Abp, the company said.
Ownership and control is split between the Alfried Krupp von Bohlen und Halbach foundation (AKBH, 21%), institutional investors (around 69%), which include Swedish investment firm Cevian
Capital (more than 15%), and private investors (10%).
Shareholders including Cevian
Capital blamed a complicated business structure for the company's weak performance, and calls for change grew louder after the group issued a profit warning in August, it stated.
After having bought the Volvo Car Group in 2010, Zhejiang Geely Holding Group has accelerated its drive into commercial vehicle production by becoming the largest shareholder in Swedish truck and bus manufacturer AB Volvo by acquiring the Cevian
Capital share in this company, which is valued at about $3.3 billion.
(Reuters) STOCKHOLM: Activist investor Cevian
Capital sees strong potential in Sweden's Autoliv after taking a stake worth around $850 million in the world's biggest maker of airbags and seat belts.
To further confuse the business researcher looking at Volvo, in December 2017, Geely acquired an 8.2% stake in AB Volvo from Cevian
29 December 2017 - Chinese automotive group Zhejiang Geely Holding Group has reached agreement with European activist fund manager Cevian
Capital to acquire its entire 8.2% share capital holding and 15.6% voting rights in Swedish truck, bus, construction equipment and diesel engine maker AB Volvo, the group said.
Zhejiang Geely Holding Group, the Chinese company that bought Volvo Cars in 2010, said Wednesday it would acquire an 8.2 percent stake in AB Volvo, a Swedish manufacturer of trucks, from the activist investment firm Cevian