Stockholm - Investment company Investor AB, with key stakes in Swedish blue chip companies, benefited from its holdings in engineering group ABB and heavy vehicle-maker Scania, Investor said Thursday. Pre-tax income for the first nine months of 2007 increased to 18.90 billion kronor (2.92 billion dollars) compared to 18.04 billion kronor for the corresponding business period 2006.
Return on Investor shares was 2 per cent for the nine-month period compared to 12 per cent for the corresponding period in 2006.
The group also cashed in on its stake in Atlas Copco that makes compressors, construction and mining tools.
Other important Investor holdings include telecommunications equipment maker Ericsson, household appliance maker Electrolux, aviation and military technology concern Saab, and banking group SEB.
Investor's net asset value at end of September was 174 billion kronor while it was 159 billion kronor at the end of December 2006.
Chief Executive Borje Ekholm said in a statement that Investor backed Borse Dubai's recent improved offer for the OMX group that operates stock exchanges in the Nordic and Baltic region, citing it was a "very attractive valuation level."
Investor earlier rejected German group Man AG's bid for Scania that was subsequently withdrawn.
Ekholm noted that "the value of our shares in Scania is more than 5 billion kronor higher than the value of the hostile bid launched by MAN a year ago."
He said Investor, as the second largest stake holder after Volkswagen, would "attempt to find a long-term industrial solution for Scania."
Investor has close ties with the influential Wallenberg family.
