February 9, 2010 - Assignment

SAS announces SEK 5 billion rights issue

Mannheimer Swartling is advising SAS on a rights issue and refinancing of certain credit facilities to support the implementation of the Core SAS strategy. The rights issue is expected to raise approximately SEK 5 billion.

SAS is the leading airline group in Northern Europe. The rights issue is undertaken to strengthen SAS's liquidity position and to provide support for the implementation of the remaining parts of Core SAS. The rights issue has support from the three government owners (Sweden, Denmark, Norway) and the largest private shareholder, the Knut and Alice Wallenberg Foundation, through Foundation Asset Management. SAS AB is listed on the Stock Exchanges in Stockholm, Copenhagen and Oslo. The primary listing is on NASDAQ OMX Stockholm.

Mannheimer Swartling’s team is led by Klaes Edhall. Katarina Bjelkow Rössel is the project leader, assisted primarily by Patrik Lilieblad, Sara Karlberg, Fredrik Jonsson, Kathleen Russell, Johan Berg and Gustaf Günther. Jan Dernestam is responsible for financing matters, mainly assisted by Amanda Rask. Anne Rutberg is responsible for tax matters, mainly assisted by Henrik Wiebe. Tommy Pettersson and Stefan Perván Lindeborg are responsible for competition law issues, assisted primarily by Rasmus Naeyé.