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Seven Group Holdings

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Seven Group Holdings Limited
SVW
Company typePublic
IndustryMedia, Mining, Construction, Equipment rental
PredecessorQintex
Seven Network Limited
Founded1991
FounderKerry Stokes (Executive Chairman)
Headquarters
175 Liverpool Street
Sydney, New South Wales
,
Australia
Area served
Worldwide
Key people
Ryan Stokes (CEO)
Warwick Smith (Director)
ParentAustralian Capital Equity (68%)[1]
SubsidiariesBeach Energy (29%)
Boral (70%)
Coates Hire
Seven West Media (40%)
WesTrac
Websitesevengroup.com.au

Seven Group Holdings Limited (SGH, formerly Seven Network Limited) is an Australian diversified operating and investment group in the media, mining and construction industries.[2]

History

Seven Network Limited was formed in 1991 by receivers to bundle together the assets of Christopher Skase's failed Qintex business.[3][4]

In 2002, Seven Media Group acquired Pacific Magazines. In January 2006, Seven Media Group partnered with Yahoo! to launch Yahoo!7, founded as a cross-media entity which would expand the content distribution networks of both companies.

In December 2006, Seven Network Limited shareholders voted to spin off the company's 'old media' assets into a 50/50 joint venture with private equity firm Kohlberg Kravis Roberts, creating the Seven Media Group.[5]

In January 2008, Kerry Stokes' National Hire Group took over alongside private investors The Carlyle Group the equipment rental company Coates, de-listing it from the Australian Securities Exchange. The hire businesses of Coates and National Hire were merged to consolidate the two largest hire companies in Australia, creating Coates Hire.[6][7][8][9]

On 22 February 2010, it was announced that WesTrac, owned by Australian Capital Equity, Kerry Stokes's investment firm, would merge with Seven Network Limited, and the combined entity was renamed "Seven Group Holdings".[10]

On 25 October 2017, SGH acquired the remaining 53% from The Carlyle Group as well as from other minority owners for $517 million.[11] SGH had first invested in Coates Hire, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary.[12][13]

In April 2011, Seven Media Group was acquired by West Australian Newspapers to create Seven West Media.[14] Seven Group Holdings remains Seven West Media's largest shareholder, with a 33% stake.[15] As of July 2021, this stood at 40%.[16] In July 2021, Seven Group Holdings took majority ownership in Boral.[17]

References

  1. ^ Evans, Michael (17 March 2010). "Revealed: Kerry Stokes's $100m land bonanza". The Sydney Morning Herald. Retrieved 24 October 2019.
  2. ^ "About Seven Group Holdings". SevenGroup.com.au. Seven Group Holdings Ltd. n.d. Retrieved 23 May 2019.
  3. ^ Bartholomeusz, Stephen (11 May 2021). "Kerry Stokes thumbs a well-worn playbook for '$8 billion' Boral bid". The Age.
  4. ^ Release, Press (8 November 2020). "Seven Group Holdings Limited (formerly Seven Network Limited)". NewsnReleases.
  5. ^ "Seven shareholders approve media spin off". The Age. 23 December 2006. Retrieved 23 May 2019.
  6. ^ Company Overview National Hire Group
  7. ^ Seven Group Holdings Buys Out Coates Hire Sydney Morning Herald 20 September 2017
  8. ^ Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  9. ^ Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  10. ^ "Seven Network and WesTrac to merge". The Sydney Morning Herald. 22 February 2010. Retrieved 5 March 2012.
  11. ^ Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  12. ^ Seven Group Holdings Coates Hire Acquisition Australian Securities Exchange
  13. ^ Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  14. ^ Burrell, Andrew (12 April 2011). "Kerry stoked by creation of Seven West Media giant". The Australian.
  15. ^ "Our Investments: Seven West Media". SevenGroup.com.au. Seven Group Holdings Ltd. n.d. Retrieved 23 May 2019.
  16. ^ Seven West Media Seven Group Holdings
  17. ^ Notice of change of interests of substantial holder Boral 30 July 2021
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