Following the recent financing round that generated €1.4 billion ($1.6 billion) for Sweden’s Stegra project, the company has reshuffled its board of directors and its corporate structure, Kallanish learns.
Wallenberg Investments, which has led the consortium in the latest financing round, will assume a leading position in the company.
A new holding company, Stegra Holding AB, owned by the investors in the new financing round, now holds over 90% of the shares and votes in the steelmaker.
The board of directors of Stegra Holding AB is now chaired by Leif Johansson of Wallenberg Investments. He succeeds Shaun Kingsbury of Just Climate, who chaired the board of Stegra for nearly two years, and who remains on the board.
Further representatives from Wallenberg on the board are Håkan Buskhe, Astrid Skarheim Onsum and Erika Söderberg Johnsson. Representatives of further stakeholders are Paal Weberg and Karin Rådström of Altor and Pierre-Etienne Franc of Hy24.
Henrik Henriksson will continue as ceo of Stegra.
The company which holds the investments made prior to the financing round has been renamed from Stegra AB to Green Nexus Investment Holding AB. It has become a minority shareholder of Stegra after the completion of the new financing round.
