19-Feb-2010 1:30 PM

Swedish Government to reduce its stake in SAS

Swedish Government plans to seek approval from parliament to reduce its stake in SAS at a “suitable point in time”, but stated it still plans to subscribe to the carrier’s planned share issue (Reuters, 18-Feb-2010). The carrier plans to raise approximately EUR509 million through the share issue, in which the Swedish government will provide approximately EUR112 million. Sweden has a 21.4% stake in the carrier, and reportedly plans to reduce its stake in a number of ways, including a sale to an outside investor.

Swedish Government: “We have said before that we want to scale back ownership in companies that operate in markets open to competition and where there is no particular reason to retain ownership, and SAS is such a company. Such a divestment is not on the cards right now, but in the longer term we see no value in owning stakes in an airline,” Maud Olofsson, Enterprise Minister. Source: Reuters, 18-Feb-2010.

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