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Vinge has advised the Swedish state in connection with the reconstruction proceedings of SAS

October 21, 2024 EU, Competition and Regulatory Restructuring and Insolvency

Vinge has advised the Swedish state in connection with the reconstruction proceedings of SAS. The proceedings, which included considerations regarding state aid approved by the European Commission, have among other things involved restructuring, debt write-downs as well as an investment by a consortium consisting of Castlelake, Air France-KLM, Lind Invest and the Danish state. In total, the investment amounted to approximately USD 1.2 billion in SAS, divided into USD 475 million in unlisted equity and USD 725 million in convertible debt.

The shares of SAS have been delisted and the Swedish state ceases to be a shareholder in SAS in connection with the completion of the proceedings.

Vinge's team has mainly consisted of Erik Sjöman and Amanda Knutsson (Capital markets and public M&A), Morgan Hallén and Jenny Sandlund (Insolvency), as well as Martin Johansson, Hedvig Josefson, and Victoria Gunnerek (EU Regulatory).

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