Press release 22 October 2007
Ministry of Finance

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.

The new procedure will replace the Government Offices' previous model of framework agreements, where the latest framework agreements applied to the period 1 October 2004 to 1 October 2007 and covered nine financial advisers.

The Government Offices' new model involves drawing up a public list on which all financial advisers can express their interest in offering their services. Financial advisers will be able to register via a link on the Government Offices' website. There will also be more detailed instructions on the website about how to register, as well as FAQs. The website will be available from Tuesday 23 October at www.regeringen.se/forsaljning.

- This is a natural step in putting into place a transparent process with increased competition for the procurement of advisers when we reduce the state ownership of enterprises, says Minister for Local Government and Financial Markets Mats Odell.

The Swedish state owns and administers in whole or in part 55 companies that on 1 June 2007 were valued at SEK 770 billion. This makes the state one of the largest corporate owners in Sweden. It is important that the companies are administered in a responsible and professional way for good value growth and so that they can be sold when there are no longer any reasons for continued ownership.