Mandate Vinge advises the Swedish state in connection with the recapitalization of SAS

October 23, 2020

Vinge advises the Swedish state in connection with the recapitalization of SAS. The recapitalization plan, which includes State aid that has been approved by the EU Commission, restores SAS’ equity by SEK 14.25 billion and secures approximately SEK 12 billion of new funding.

The recapitalization plan consists of a directed issue of shares to the Swedish and Danish states, a rights issue of shares to existing shareholders, two directed issues of hybrid notes, of which one is directed to the Swedish and Danish states and one is directed to the Danish state, as well as conversion of existing hybrid notes into shares and of existing bonds into new hybrid notes or shares. The conversion of debt instruments aims at distributing the economic burden of the company’s recapitalization. In aggregate, the Swedish state provides SAS with SEK 5 billion in connection with the recapitalization of the company.

Vinge’s team consisted of Charlotte Levin, Erik Sjöman, Martin Johansson, Amanda Knutsson, Hedvig Josefson and Julia Hirschberg.

Jerker Kjellander is a new partner in Skåne

Dispute resolution expert Jerker Kjellander has been elected as a partner in Vinge’s Skåne office.
November 20, 2020

Amendments to the Swedish Competition Act provide extended powers for the Swedish Competition Authority

Update 13 November 2020. Early in 2021, the Swedish Competition Act (2008: 579) will be amended in several important respects. The background to the amendments is Directive (EU) 2019/1 of the European Parliament and of the Council, which aims to harmonize the investigative and sanctioning powers of the European competition authorities in their enforcement of the EU competition rules. Undertakings active in Sweden will be affected by the amendments in several ways.
October 12, 2020

Vinge contributes to IUMI Eye

International Union of Marine Insurers (IUMI) is preparing for its first web based conference – Stockholm 2020 – of which Vinge is a proud sponsor. In the latest edition of IUMI Eye, published just in time for the conference, Vinge’s Paula Bäckdén and Sweden Insurance’s senior advisor Mikaela Tamm discuss the implications of waiving liability limitations.
September 15, 2020