Access Industries
 | |
| Privately owned company | |
| Industry | Conglomerate |
| Founded | 1986 |
| Founder | Leonard Blavatnik |
| Headquarters | New York City, New York, United States |
Key people | Leonard Blavatnik (Chairman) |
| Owner | Leonard Blavatnik |
| Subsidiaries | Warner Music Group |
| Website | www.accessindustries.com |
Access Industries is a privately held, American conglomerate holding company founded in 1986 by its chairman, Len Blavatnik. Access’s industrial focus is in three areas: natural resources and chemicals, media and telecommunications, and real estate. It is the owner of the Warner Music Group.
Holdings
Natural resources and chemicals
LyondellBasell Industries
In 2005, Access acquired Basell Polyolefins, a former joint venture between Royal Dutch Shell and BASF. Basell, headquartered in Hoofddorp, The Netherlands, was a leading company in the technology, production and marketing of polyolefins. Basell’s polyolefin materials and production technologies were used for used for diverse consumer applications, including packaging and automotive to medical and consumer goods.
On December 20, 2007, Basell completed its acquisition of the Lyondell Chemical Company, paying $48 per share in cash to the latter's shareholders. Including the assumption of Lyondell debt, the deal had an enterprise value of approximately $19 billion. The resulting company, LyondellBasell Industries is the world's third-largest chemical company based on net sales.
On January 6, 2009, the U.S. operations of LyondellBasell Industries filed for bankruptcy. On April 30, 2010, LyondellBasell emerged from Chapter 11 bankruptcy protection in a significantly improved financial position. As part of its exit financing, LyondellBasell raised $3.26 billion of first priority debt as well as $2.8 billion through the rights offering jointly underwritten by Access Industries, Apollo Management and Ares Management. Access currently owns approximately 14% of LyondellBasell.
TNK-BP
In 1997, Access acquired a stake in the Russian oil company TNK. In 2003, half of TNK was sold to British Petroleum (BP) to form TNK-BP, marking the largest-ever foreign investment in a Russian company. On March 21, 2013, Rosneft completed its $55 billion acquisition of TNK-BP.
UC RUSAL
In 1996, Access helped to form SUAL, one of the world’s largest aluminum producers, through direct investment and the merger of assets. In early 2007, SUAL merged with RUSAL and the alumina business of Glencore International AG to form UC Rusal, the world’s largest vertically integrated aluminum producer.
Media and telecommunications
Acision
In 2007, Access acquired a stake in Acision, the market leader in messaging solutions for mobile operators worldwide. Acision has over 300 mobile operators as customers who serve over a billion end users. Over 50 per cent of global messaging traffic is generated through Acision's platforms. The company employs approximately 1,700 people in 22 countries across six continents.
Top Up TV
In late 2003, Access acquired a controlling stake in Top Up TV which launched in March 2004 on Britain’s digital terrestrial TV platform. Top Up TV broadcasts a range of channels including: British Eurosport, UKTV Gold, Discovery Channel, TCM, Cartoon Network, Discovery Real Time, UKTV Food, and Bloomberg.
Warner Music Group
Access invested in Warner Music Group in 2004 with Thomas H. Lee Partners, Bain Capital, Providence Equity Partners, and Edgar Bronfman Jr. A partial sale of Warner Music Group was completed through an IPO on the NYSE in May 2005. Access continued as a significant shareholder.
In May 2011, WMG announced its sale to Access for US$3.3 billion cash, after a three-month bidding process.[1] The purchase was set to include cash of US$320 million and would include the assumption of US$2 billion of WMG debt. Access's stake in WMG was put at 2 percent at the time of the announcement.[2] The purchase was completed on July 20, 2011.[3]
ice.net and net1
Access invested in ice.net (in Norway) and net1 (in Sweden and Denmark) in 2009. ice.net and net1 are telecom services providers offering mobile broadband in Scandinavia. By deploying 3G-technology in lower frequencies the company has the largest geographical footprint of all Scandinavian operators and approx, 100,000 subscribers.[4][5][6]
AMEDIA
Access owns a majority stake in Amedia, Russia's leading TV production company. The Amedia group of companies also includes Media City, one of the largest TV studios in Russia, which provides end-to-end production services (including sound stages, equipment, costumes and scenery) to in-house and third-party producers.
Icon Group
In 2009, Access acquired the UK operations of LA-based Icon Group, the film and entertainment business created by Mel Gibson and Bruce Davey.
Real estate
Access owns hotels and commercial real estate properties in the U.S., Latin America, and Europe. One notable development is the Faena Hotel+Universe, opened in 2004[7] in Buenos Aires, Argentina.
References
- ↑ Smith, Ethan, "Deal Values Warner Music at $3.3 Billion", Wall Street Journal, May 6, 2011 12:39 P.M. EDT. Retrieved 2011-05-06.
- ↑ "Warner Music Group being sold for $1.3 billion to Access Industries amid industry decline", Associated Press via Washington Post, May 6, 1:38 PM EDT. Retrieved 2011-05-06.
- ↑ http://www.billboard.biz/bbbiz/industry/record-labels/access-industries-completes-acquisition-1005283602.story
- ↑ ice.net
- ↑ net1.se
- ↑ net-1.dk
- ↑ "THE DREAM OF CREATING ANOTHER BUENOS AIRES",Faena Properties, December 13, 2003. Retrieved 2012-01-12.