Thursday, October 13, 2016

Norway and Sweden sells 19 million SAS shares – E24

Wednesday night, reports the Swedish and Norwegian government that they instantly want to get rid of 19 million SAS shares, equivalent to 5.8 per cent of the outstanding shares of the company.

Single SAS share is Wednesday priced at 16,40 Swedish krona, which provides aksjebunken the government will sell a market value of approximately 311 million Swedish krona.

the Sale is, however, only the first step on the road in a “gradual and responsible disposal” and eierskapene to the Norwegian and Swedish state, called it in regjeringsmeldingene.

today, The owner Sweden 21,3 per cent of the SAS. Norway’s ownership interest is 14.2 per cent.

“the Swedish and the Norwegian authorities estimate that the SAS in the long term will be strengthened by a changed ownership structure that involves a reduction of government ownership”, type the authorities.

Need to buy at least 100,000 euros

the Sale will be conducted through an accelerated auction process that will start immediately.

Aksjehandlene will be made in Swedish kronor. Minimum purchase order must equal 100,000 euros or more.

Citigroup is assigned to the global coordinator and joint facilitator for the sale of aksjepostene. Nordea and Swedbank will also assist.

the Ministry of industry and ministry of fisheries will not comment on the aksjesalget beyond the press release, informs head of communications Trond Viken to E24.

SAS’ Norwegian manager Knut Morten Johansen has no comment.

– It’s about the right price at the right time

the Government has since 2011 been authorized by Parliament to sell out of the SAS, but neither the Norwegian trade and industry minister Monica Mæland (H) or her predecessor Trond Giske (Ap) has so far availed itself of the authorisation.

the starting point is that we don’t have hurry to sell SAS. We should do things because it is right, on behalf of the community. It’s about the right price at the right time. But something happens that is right for us and the company, so we do it, ” said Mæland to the NTB in July.

” I believe that there is a bipartisan consensus that there do not exist arguments that the state should own shares in an airline, said Maeland in the same interview.

the Swedish Norwegian trade and industry minister Michael Damberg has said that the Swedish state shall not be long-term owner in the SAS.

Also the Danish government has opened to sell SAS shares. The ownership is currently 14.2 per cent, as much as Norway.

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