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Article: How Stenbeck built his Swedish empire. (Industriforvaltnings AB Kinnevik's Jan Stenbeck) (Multichannel News International)
- Article from:
- Multichannel News
- Article date:
- January 23, 1995
- Author:
CopyrightCOPYRIGHT 1995 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Scandal often has torn away at the reputation of Industriforvaltnings AB Kinnevik. And strong criticism often has been directed toward Jan Stenbeck, but it's difficult to argue with his success.
When father Hugo Stenbeck died in the late 1970s, the family company was inherited by Jan and his two sisters, Margaretha and Elisabeth. Jan wanted to keep the company within the family; his sisters wanted to sell it for their share of the inheritance.
The sisters were in the majority, but eventually Stenbeck got it his way. Backed by his mother, and with the help of a few business friends, he bought one of Kinnevik's subsidiaries, Fagersta. Fagersta then bought ...