Mandate Vinge has advised Scandic in connection with its rights issue and the agreement on new credit facilities

July 15, 2020

Vinge has advised Scandic Hotels Group AB (publ) on a fully underwritten rights issue, which will provide Scandic with issue proceeds amounting up to approximately SEK 1,765 million before deduction of transaction costs, and on the agreement of new credit facilities amounting to SEK 1,400 million.

The new shares are expected to be admitted to trading on Nasdaq Stockholm around 29 June 2020.

With 53,000 hotel rooms in operation at 268 hotels in about 130 locations, Scandic is the leading hotel company in the Nordic region. Most of Scandic’s hotels are operated under the fully-owned Scandic brand, which is the best-known hotel brand in the Nordics.

Scandic is listed on Nasdaq Stockholm, Mid cap.

Vinge’s team primarily consisted of Jesper Schönbeck, David Andersson, Amanda Knutsson, William Kåge, Anders Sundin Lundberg, Eléonore Friberg (Capital markets), Louise Brorsson Salomon, Thomas Sjöberg, Robert Wikholm, Linn Adelwald, Ludvig Wettergren and Elias Lundin (Banking and Finance).

Sanctions round-up

Not long time ago sanctions were a rare occurrence which only involved obscure products and countries, and which were decided by the members of the United Nations Security Council. Today, the European Union and, in particular, the United States, impose sanctions and other trade restrictions with high frequency which have the potential to affect any type of transaction. Below you will find a summary of some recent developments.
December 22, 2020

EU Commission criticizes Sweden for its application of the rules on combined transports

Through a formal notice to Sweden, the European Commission has criticized the inadequate application of Directive 92/106/ECC on common rules for certain forms of combined transport of goods between Member States (the “Combined Transports Directive”). The notice mainly concerns the Swedish Transport Agency's application of the term "nearest suitable railway station"
December 11, 2020