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.
The debt office said that the total proceeds from the sale of Carnegie and Max Matthiessen would in time, fully cover the 2.4 billion kronor loan provided to Carnegie in November.
”This is a good outcome for the Swedish State, the companies involved and the buyers,” said Bo Lundgren, head of the debt office.