Bo Lundgren, head of the National Debt Office

Carnegie Sell-Off

The Swedish government has sold off the troubled investment bank Carnegie after two private equity groups signed a deal worth 280 million US dollars.

The Swedish National Debt Office said it had sold Carnegie and its insurance brokerage Max Mattiesen to Altor Fund 111 and Bure Equity AB.

In November, the Debt Office took control of Carnegie shares as collateral for an emergency loan given to the struggling bank. Carnegie was then nationalised when the financial regulator revoked its banking license due to what it called illegal trading activities.

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