SAS in final agreement with Estonian Air

The SAS Group has reached an agreement with the Estonian Government that will result in SAS divesting its 49% stake. The Estonian Government will provide approximately MSEK 200 in a new rights issue and SAS will convert approximately MSEK 20 in loans into equity. After the rights issue the Estonian State will hold 90% and SAS 10% of Estonian Air. SAS will remain lender of approximately MSEK 70 in loans with a maturity in 2014.

Estonian Air has an option to buy SAS remaining stake and SAS has the option to sell its stake at Fair Market Value after 4 years. The transaction is conditional upon parliamentary approval in Estonia. The transaction is neutral to profit and liquidity of the SAS Group.

SAS will continue its commercial cooperation with Estonian Air.

COMMENTS

(name)

SUPPORTED BY

 
OFFERS OF THE DAY:
Holiday and travel offers 07.11.2024 - 14.11.2024 “Following the Trails of Karaite History” Trakai TIC
Celebrating the Year of Lithuanian Karaims, Trakai Tourism Information Center has created thematic route “Following the Trails of Karaite History”. In this | More
Savour the vibrant flavours of Asia Grand Hotel Kempinski Riga
Savour the vibrant flavours of Asia at Stage22 with our delicious ramen — a culinary journey that brings the essence of fusion dining to your table | More
Step into a world of culinary delight Wellton Riga Hotel & SPA
From rich, soul-warming meals to mouth-watering desserts that are a feast for the senses, we promise an unforgettable dining experience for all tastes | More
Planning your next event?  Pullman Riga Old Town
ullman’s state-of-the-art conference rooms are ready to host your business with style and sophistication. 🏢✨Discover our facilities. | More

About us | Advertising | Cooperation | Code of Ethics | Contact us | Copyright | Privacy Policy
All rights reserved © 2002 - 2024 BalticTravelnews.com | Design & maintenance © 2000 - 2024 1st-studio.com

 
Total Timed::0.72280097sec.