SAS divests stake in Estonian Air

SAS has signed an agreement, in principle, with the Estonian government that will result in SAS divesting its 49 per cent stake, SAS wrote today.
The Estonian government will provide approx. SEK 205 million of new capital in a new rights issue. After the rights issue the Estonian government will hold 90 per cent and SAS only 10 per cent of Estonian Air.
The transaction is neutral to profit and liquidity of the SAS Group. Estonian Air has an option to buy SAS’ remaining stake.
The transaction is in line with SAS’ strategy for divestment of activities outside the Nordic home market. Direkt/BNS