Prince Daniel sold at the right time - got nine million
Timing is everything in business, Daniel made his move at just the right time in the late summer of 2019 when his partly owned company Lapada sold half of its holding in the exclusive gym Master Training AB.
Six months later, the coronavirus swept the world and the gym is one of the industries hardest hit.
- If you had known what was coming, you might think that this was a good timing, says Jan Lindman, the court's finance director.
A rule for those who want to succeed in business is not to let emotions control the choices.
Still, the sale of Master Training must have felt a little in Daniel's heart. It was at the company's premises that he met his future wife and became part of the royal family. This year it has been 20 years since Victoria first appeared at the exclusive Master Training gym in Stockholm.
Daniel continues to be involved in issues related to sports and health. He is honorary chairman of the board of the Heart-Lung Foundation. Physical activity is one of the best recipes for cardiovascular diseases.
- Prince Daniel is not only interested in public health. He is also very knowledgeable, says Jan Lindman.
Daniel's company Lapada AB owned just over 85% in Master Training before selling half of its holding in the late summer of 2019. Lindman says that there was no specific plan to liquidate the holding in the gym industry, rather it was the result of interacting factors.
- There were interesting investors who were long-term. On the one hand, they saw opportunities to make other investments.
Lindman says that after 20 years in the health club industry, it may be natural to broaden investment perspectives.
Daniel runs company Lapada AB with his friends Lars Hellström and Patrik Vrbanc. Lapada AB is focused on body care, the name comes from the first two letters of the owners' first names. Daniel owns 70% of the company through his wholly owned company Fornwij AB and his friends each own 15% through their companies.
In July 2019, Lapada owned 858 of 1,000 shares in Master Training AB. Two months later, it owned only 430 shares. Half of the holding had been sold. The price tag is unknown. The Board of Directors of Lapada AB proposed a dividend of SEK 12.5 million to the shareholders, meaning that SEK 8,750,000 would end up in Daniel's company Fornwij AB.
Prins Daniel gjorde stor vinst när han sålde Master Training
Daniel thus continues to make big money in his private companies. However, he does not sit on the boards of the companies, instead his friends are board members in Lapada AB and in Fornwij AB there are board members from the court, including Jan Lindman and the king's lawyer Axel Calissendorff.
Prins Daniels hemliga mångmiljonklipp _ Stoppa Pressarna