Seven Group Holdings

Last updated

Seven Group Holdings Limited
SVW
TypePublic
Industry Media, Mining, Construction, Equipment rental
Predecessor Qintex
Seven Network Limited
Founded1991
Founder Kerry Stokes (Executive Chairman)
Headquarters,
Area served
Worldwide
Key people
Ryan Stokes (CEO)
Warwick Smith (Director)
Parent Australian Capital Equity (68%) [1]
Subsidiaries Beach Energy (29%)
Boral (70%)
Coates Hire
Seven West Media (40%)
WesTrac
Website sevengroup.com.au

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

Contents

History

Seven Network Limited was created in 1991 by receivers in order to bundle together the assets of Christopher Skase's collapsed former business, Qintex. [3] [4]

Between 1995 and April 2001, Alan Jackson of Nylex was the non-executive director of Seven, after being asked by Stokes to lead the company. [5] [6]

In 2002, Seven Media Group acquired Pacific Magazines. In January 2006, the company partnered with Yahoo! to launch Yahoo!7, a cross-media entity meant to 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 KKR, creating the Seven Media Group. [7]

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. [8] [9] [10] [11]

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. [12]

On 25 October 2017, SGH acquired the remaining 53% from The Carlyle Group as well as from other minority owners for $517 million. [10] SGH had first invested in Coates Hire, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary. [13] [11]

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]

Related Research Articles

<span class="mw-page-title-main">Kerry Packer</span> Australian publishing, media and gaming tycoon

Kerry Francis Bullmore Packer was an Australian media tycoon, and was considered one of Australia's most powerful media proprietors of the twentieth century. The Packer family company owned a controlling interest in both the Nine Network and the publishing company Australian Consolidated Press, which were later merged to form Publishing and Broadcasting Limited (PBL). Outside Australia, Packer was best known for founding World Series Cricket. At the time of his death, he was the richest and one of the most influential men in Australia. In 2004, Business Review Weekly magazine estimated Packer's net worth at A$6.5 billion.

Kerry Matthew Stokes is an Australian businessman. He holds business interests in industries including electronic and print media, property, mining and construction equipment. He is most widely known as the chairman of the Seven Network, one of the largest broadcasting corporations in Australia.

GWN7 was an Australian television network serving all of Western Australia outside metropolitan Perth. It launched on 10 March 1967 as BTW-3 in Bunbury. It was an affiliate of the Seven Network and served one of the largest geographic television markets in the world—almost one-third of the continent. The network's name, GWN, is an acronym of Golden West Network, the network's name from 1979 to when the current name was adopted in 2011.

Brambles Limited is an Australian company that specialises in the pooling of unit-load equipment, pallets, crates and containers. It is listed on the Australian Securities Exchange.

<span class="mw-page-title-main">AMP Limited</span> Financial services company located in Australia and New Zealand

AMP is a financial services company in Australia and New Zealand providing superannuation and investment products, financial advice, and banking products including home loans and savings accounts. Its headquarters is in Sydney, Australia.

<span class="mw-page-title-main">Newcrest Mining</span> Australian-based mining company

Newcrest Mining Limited is an Australian-based corporation which engages in the exploration, development, mining and sale of gold and the froth flotation product, gold-copper concentrate. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example Indonesia, thus becoming a prominent international mining corporation. Newmont initially started the company as a subsidiary in 1966. The subsidiary became Newmont Holdings Pty Ltd in 1980 and in 1990 acquired 100 per cent of Australmin Holdings Limited taking the current name.

<span class="mw-page-title-main">Ten Network Holdings</span> Australian media company

Ten Network Holdings Ltd, commonly referred as Paramount Australia & New Zealand, is a major media company in Australia. Headquartered in Sydney, its major asset is Network 10, a free-to-air television network. Formerly a public company listed on the Australian Securities Exchange, since December 2019, it has been a subsidiary of Paramount Networks UK & Australia.

<span class="mw-page-title-main">Qintex</span>

Qintex Limited was an Australian financial services company founded in 1975 as Takeovers, Equities & Management Securities (TEAM). It was renamed Qintex Limited and came to prominence in 1986, collapsing five years later in 1991. Its main shareholder and Managing Director was Christopher Skase.

<span class="mw-page-title-main">Publishing and Broadcasting Limited</span> Australian media and gaming company

Publishing and Broadcasting Limited (PBL) was one of Australia's largest corporations. With interests primarily in media and gambling, for the entirety of its existence it was largely controlled by the Packer family.

<span class="mw-page-title-main">Nine Entertainment</span> Australian media and entertainment company

Nine Entertainment is an Australian publicly listed mass media company with holdings in radio and television broadcasting, publishing and digital media. It uses Nine as its corporate branding and also prefers this usage to be used for the parent company.

David John Leckie was an Australian media manager, best known as a network television executive. Leckie was he the chief executive officer of the Network Nine between 1990 and 2001 and Seven West Media from 2003 to 2012. Afterwards he was for four years an executive director at Seven Group Holdings, which holds investments in Seven West, earthmoving company WesTrac and the Agricultural Bank of China.

<span class="mw-page-title-main">Fairfax Media</span> Australian media company

Fairfax Media was a media company in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties. The company was founded by John Fairfax as John Fairfax and Sons, who purchased The Sydney Morning Herald in 1841. The Fairfax family retained control of the business until late in the 20th century.

<span class="mw-page-title-main">Prime Media Group</span> Australian-based media corporation

Prime Media Group Limited was an Australian-based media corporation that formerly owned regional television network Prime7 in eastern Australia and GWN7 in regional Western Australia. It also owned ishop TV, a datacasting channel, co-owned by Brand Developers and two joint ventures with the WIN Corporation, Mildura Digital Television, and West Digital Television, and also owned a network of radio stations in Queensland from 2005 until 2013, when they were sold to Grant Broadcasters.

CIMIC Group Limited is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects.

Australian National Industries was an Australian heavy engineering company with diverse range of holdings.

Consolidated Media Holdings (CMH) was an Australia investment company focused on subscription television.

WesTrac is a Caterpillar dealer. It was owned by Australian Capital Equity, which in turn was owned by Kerry Stokes. In 2010 it and Seven Network Limited merged to form Seven Group Holdings.

<span class="mw-page-title-main">OFX (company)</span> Australian foreign exchange and payments company

OFX, previously known as OzForex, is an Australian online foreign exchange and payments company with headquarters in Sydney. The company provides money transfer services to individuals such as migrants and expatriates and small businesses as well as providing white-label international transfer services for Travelex, MoneyGram, Xero, Capital One 360 and Macquarie Group.

<span class="mw-page-title-main">Seven West Media</span> Australian media company

Seven West Media Limited is an Australian ASX-listed media company and is Australia's largest diversified media business, with an extensive presence in broadcast television, radio, print and online publishing.

<span class="mw-page-title-main">Coates Hire</span> Australian equipment rental company

Coates is Australia's largest equipment rental company. Coates operates in both Australia and, to a lesser degree, Indonesia. It is a fully owned subsidiary of Seven Group Holdings. As of 2019, Coates is valued A$1.7 billion of hire equipment at original cost.

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. "Jackson off Seven board". The Daily Telegraph . 26 June 2001. p. 27. ProQuest   358640428.
  6. Mayne, Stephen (14 January 2008). "The day Alan Jackson lost his cool". The Mayne Report. Retrieved 16 January 2023.
  7. "Seven shareholders approve media spin off". The Age . 23 December 2006. Retrieved 23 May 2019.
  8. Company Overview National Hire Group
  9. Seven Group Holdings Buys Out Coates Hire Sydney Morning Herald 20 September 2017
  10. 1 2 Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  11. 1 2 Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  12. "Seven Network and WesTrac to merge". Sydney Morning Herald . 22 February 2010. Retrieved 5 March 2012.
  13. Seven Group Holdings Coates Hire Acquisition 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