LKAB’s Norrskenet invests in Northland Resources
Members of a consortium consisting of Norrskenet AB, Folksam, Metso and PEAB have decided to invest a total of USD 100 million, or USD 25 million each, in bonds which will be issued by Northland Resources AB (publ).
Norrskenet AB is jointly owned by Luossavaara-Kiirunavaara Aktiebolag (LKAB) and business developer Expandum AB i Gällivare and Progressum i Kiruna AB. LKAB is a mining group, established in 1890 and which is wholly owned by the Swedish state. The group has an annual turnover of approximately 30 billion SEK and it has over 4,000 employees in 14 countries.
LKAB has been advised by Mannheimer Swartling with a team including Martin Pekkari, Tom Wehtje, Thomas Pettersson, Martin Ericsson, Ola Espelund, Therese Jansson, Richard Edström and Tobias Bergström.