The Swedish State Divests the Beam Shares and Finalises the Vin & Sprit Sale for SEK 58 bn
Following the closing of the sale of Vin & Sprit yesterday to Pernod Ricard, the Swedish State has agreed on the terms of Fortune Brand's repurchase of the shares in the American liquor company Beam (Beam Global Spirits & Wine, Inc).
Swedish Government sells Vasakronan for a value of SEK 41 bn
Today, the Swedish Government decided to sell the property company Vasakronan to AP Fastigheter. The total value is SEK 41.1 bn. An agreement was signed earlier today.
Statement regarding France Telecom's withdrawal of the indicative proposal
The minister of financial markets and local government, Mats Odell, gives the following statement:
"As one of the principal shareholders of TeliaSonera we have followed closely the discussions between France Telecom and the board of directors of TeliaSonera. When France Telecom announced their indicative proposal on June 5, we stated that the offer did not reflect the full value and potential of TeliaSonera. France Telecom today announced that they withdraw their proposal to combine with TeliaSonera. The Government's intention to reduce its ownership in TeliaSonera remains unchanged."
The 2008 Spring Fiscal Policy Bill
Today, Tuesday 15 April, the Government presents its economic and budget policy guidelines in the 2008 Spring Fiscal Policy Bill. The most important objective is to reduce exclusion and get more people into jobs. The full text of the Spring Fiscal Policy Bill will be available in English in May. A summary in English will be published shortly.
The Government Sells Vin & Sprit for SEK 55 billion
The Government of Sweden has agreed to sell V&S Vin & Sprit AB (V&S) to Pernod Ricard S.A. (Pernod Ricard), one of the world's leading wine and spirits companies. The total value of the transaction for V&S, owner of the Absolut vodka brand, is equivalent to SEK 55 billion in accordance with the agreement signed on Sunday March 30.
Re-establishing the Swedish model
On Wednesday Minister for Finance Anders Borg addressed The Economist's first roundtable conference with the Swedish Government. The title of his speech was "Re-establishing the Swedish model".
The analysis phase regarding Vin&Sprit now completed
The analysis and preparation phase regarding the planned reduction of the state ownership in Vin&Sprit has now been completed. The Government is now entering into a more active execution phase, where a transaction is expected to be announced next year.
Strong and sustainable public finances
Public finances are strong and sustainable in the long term. This is evident from Sweden's ninth updated convergence programme, which was today submitted to the European Commission and the Council.
Guidelines for Central Government Debt Management in 2008
The Government today decided the guidelines for central government debt management for 2008-2010. For 2008 the amortisation rate for the foreign currency debt is to be SEK 40 billion. The Debt Office has a mandate to deviate from the amortisation rate by SEK ±15 billion.
New procedure for the purchase of financial services
The Government Offices is introducing a new registration procedure for financial advisers. The model will be used when the Government Offices needs to hire financial advisers for the issue, sale, purchase and transfer of securities and other financial instruments regarding state-owned companies.
