The Norwegian state wants to sell its remaining holding in SAS, the country's Ministry of Economic Affairs and Energy announces.
The 37.8 million shares correspond to 9.88 percent of the airline's total shareholding.
”"The transaction confirms what was previously communicated by the government that the Norwegian state is no longer a long-term owner of SAS," a press release states.
The Norwegian government has had a mandate from the Storting to sell its SAS holding for seven years, but the deal has been delayed by poor profitability in the company and a falling share price. The recent upturn has meant that the Norwegian state believes it can make enough profit to justify a sale, according to Norwegian broadcaster NRK.
– For SAS, it is good in the long term that they have an owner who is not a state, an owner who wants to take the company forward, says Mats Hyttinge, equity analyst at Jarl Securities.
”Pressing the course a little”
Hyttinge does not believe that Sweden's plans to sell are affected by the Norwegian announcement.
– But if you find a buyer for this post, there will certainly be a buyer for the Swedish Post as well. In the short term, it means nothing more than that it puts a little pressure on the price. The important thing for SAS is to deliver a good result.
Source:TT-svt.se
