Seven Group Holdings

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]

Seven Group Holdings Limited
SGH
TypePublic
ASX: SVW
IndustryMedia, Mining, Construction, Equipment rental
PredecessorSeven Network Limited
Founded1991
FounderKerry Stokes (Executive Chairman)
Headquarters
Pyrmont, New South Wales
,
Australia
Area served
Worldwide
Key people
Ryan Stokes (CEO)
Warwick Smith (Director)
ParentAustralian Capital Equity (68%)[1]
SubsidiariesBeach Energy (28.6%)
Coates Hire
Seven West Media (40.2%)
WesTrac
Websitesevengroup.com.au

History

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

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 (KKR), creating the Seven Media Group.[3]

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 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 ASX. The hire businesses of Coates and National Hire were merged to consolidate the two largest hire companies in Australia, creating Coates Hire.[4][5] On 25 October 2017, SGH acquired the remaining 53% from The Carlyle Group as well as from other minority owners for $517 million.[6] SGH had first invested in Coates Hire, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary.[7][8]

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".[9]

In April 2011, Seven Media Group was acquired by West Australian Newspapers Ltd to create Seven West Media Ltd.[10] Seven Group Holdings remains Seven West Media's largest shareholder, with a 33.2% stake.[11]

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. "Seven shareholders approve media spin off". The Age. Australian Associated Press. 23 December 2006. Retrieved 23 May 2019.
  4. Company Overview National Hire Group
  5. Seven Group Holdings Buys Out Coates Hire Sydney Morning Herald 20 September 2017
  6. Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  7. Seven Group Holdings Coates Hire Acquisition Australian Securities Exchange
  8. Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  9. "Seven Network and WesTrac to merge". The Sydney Morning Herald. 22 February 2010. Retrieved 5 March 2012.
  10. Burrell, Andrew (12 April 2011). "Kerry stoked by creation of Seven West Media giant". The Australian.
  11. "Our Investments: Seven West Media". SevenGroup.com.au. Seven Group Holdings Ltd. n.d. Retrieved 23 May 2019.
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