Carnegie sale completed
Press release 19 May 2009
The purchase agreement was signed on 11 February 2009. The purchase was conditional on the buyers obtaining the necessary licences from the relevant authorities. Among other things, determination of competition and consideration of ownership have been carried out by supervisory authorities in a number of countries. All licences have now been obtained. The purchase price has been paid and ownership transferred.
- When the Debt Office took over Carnegie during the autumn, the risk for a worsening of the financial crisis decreased, comments Bo Lundgren, Director-General of the Debt Office. It is also gratifying that taxpayers most likely will be reimbursed for the costs incurred.
The swift sales process means that Sweden will be one of the first countries in Europe to sell a nationalised bank back to private owners.
The total value of the sales is at least SEK 2,275 million including amortisation of the Debt Office's loans to Carnegie and a dividend from Max Matthiessen. In addition to this, the Debt Office will receive part of future repayments of certain loans granted by Carnegie. We make the assessment that the total income from the sale will over time cover the original loan of SEK 2,400 million received by Carnegie in November 2008 and our costs.
Further information may be obtained from:
Daniel Barr, Head of Bank Support, tel +46 8 613 46 94
Charlotte Rydin, Head of Legal Department, tel +46 8 613 46 26