June 26, 2018 / 4:59 PM / 9 months ago

Norway to sell its remaining shares in SAS airline

OSLO (Reuters) - Norway launched a sale of its remaining 9.88 percent stake in Scandinavian airline SAS (SAS.ST), the country’s ministry of trade and industry said on Tuesday.

The Norwegian state has gradually reduced its stake in SAS, and the latest sale of 37.8 million shares would complete its exit from the Sweden-headquartered airline.

“The Norwegian state’s ownership in SAS has been purely commercial. Consequently, it is not expected that the company will be making strategic or operational changes following the transaction,” the ministry said in a statement.

Norway appointed Nordea, Pareto and UBS as joint global coordinators and bookrunners for the transaction, it added.

Reporting by Nerijus Adomaitis

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