Note 40 Related parties
The Group is subject to considerable influence by Mats Paulsson, Fredrik Paulsson and Anita Paulsson together with families, children and companies. Their combined votes accounted for some 58 percent of the votes in Peab AB per 31 December 2016.
Skistar
The Skistar Group is subject to considerable influence by Mats Paulsson with families, children and companies through their ownership of the company. Mats Paulsson has been a member of the Board of Directors of Skistar until December 2015.
Kranpunkten
Kranpunkten is subject to considerable influence by Fredrik Paulsson with family, children and companies through their ownership of the company. Fredrik Paulsson is also CEO of Kranpunkten.
Ocay
Fredrik Paulsson was one of the major owners of Ocay up to August 2012 when he sold the majority of his share of the company. Fredrik Paulsson has been a member of the Board of Directors of Scandinavian Office Group until December 2015, which is the parent company of Ocay. Transactions are included up until December 2015.
AB Axel Granlund/Volito
Karl-Axel Granlund is a member of the Board of Directors of Peab and has decisive influence in AB Axel Granlund/Volito together with families, children and companies.
Joint arrangements
In addition to the related parties presented above the Group has a related party relation with its joint arrangements, see note 17 and 18.
Subsidiaries
In addition to the related parties above given for the group, the parent company has a close relationship with its subsidiaries, see note 41.
Summary of transactions with related parties
| Group, MSEK | 2016 | 2015 |
| Transactions with joint arrangements | ||
| Sales to joint arrangements | 1,081 | 1,065 |
| Purchases from joint arrangements | 118 | 121 |
| Interest income from joint arrangements | 86 | 63 |
| Interest costs to joint arrangements | 12 | 80 |
| Receivables from joint arrangements | 1,986 | 2,203 |
| Liabilities to joint arrangements 1) | 53 | 58 |
| Dividends from joint arrangements | 180 | 621 |
| Capital contributions to joint arrangements | 19 | 28 |
| Guarantee liabilites for the benifit of joint arrangements | 2,267 | 2,188 |
| Transactions with Skistar | ||
| Sales to Skistar | 7 | 27 |
| Purchases from Skistar | 1 | 1 |
| Receivables from Skistar | 0 | 3 |
| Transactions with Kranpunkten | ||
| Sales to Kranpunkten | 36 | 29 |
| Purchases from Kranpunken | 48 | 53 |
| Receivables from Kranpunkten | 7 | 5 |
| Liabilities to Kranpunkten | 6 | 5 |
| Transactions with Ocay 2) | ||
| Sales to Ocay | – | 10 |
| Purchases from Ocay | – | 30 |
| Receivables from Ocay | – | 2 |
| Liabilities to Ocay | – | 2 |
| Transactions with AB Axel Granlund/Volito | ||
| Sales to AB Axel Granlund/Volito | 28 | 4 |
| Sales of 50 percent of the shares in Peab FU Linné AB 3) | 389 | – |
| Purchases from AB Axel Granlund/Volito | 1 | 1 |
| Receivables from AB Axel Granlund/Volito | 8 | 1 |
| Dividends to AB Axel Granlund/Volito | 50 | 44 |
1) Note 35, section Offsetting agreements describes offsetting rights regarding preference shares in joint ventures and interest-bearing long-term liabilities, which have not been included in Liabilities to joint arrangements.
2) Peab has continued operations with Ocay but above include only transactions during the time they were related parties to Peab.
3) The AGM 10 maj 2016 approved the Board’s proposal to sell 50 percent of the shares in Peab’s wholly owned subsidiary Peab FU Linné to Volito Fastigheter. For further information see here the Board of Directors’ report.
Summary of transactions with related parties
| Parent company, MSEK | 2016 | 2015 |
| Transactions with subsidiaries | ||
| Sales to subsidiaries | 241 | 267 |
| Purchases from subsidiaries | 48 | 46 |
| Interest costs to subsidiaries | 142 | 151 |
| Receivables from subsidiaries | 2,444 | 1,263 |
| Liabilities to subsidiaries | 7,339 | 7,456 |
| Capital contributions to subsidiaries | 35 | 82 |
| Dividends from subsidiaries | – | 200 |
| Transactions with Ocay 1) | ||
| Purchases from Ocay | – | 2 |
| Transactions with AB Axel Granlund/Volito | ||
| Dividends to AB Axel Granlund/Volito | 50 | 44 |
1) Peab has continued operations with Ocay but above include only transactions during the time they were related parties to Peab.
Executive management
For information on salaries and other remuneration to the Board of Directors and the CEO and senior officers along with information on costs relating to pensions and similar benefits and agreements on retirement remuneration, see note 9.
Transaction terms
Transactions with related parties were priced on general market terms.