Norway sells its stake in Norwegian Air for US$88mil
Norway's trade, industry and fisheries ministry said that it had sold its remaining 65.58 million shares in Norwegian Air, a 6.26% stake, at NOK13.60 each. (EPA Images pic)
COPENHAGEN : Norway's government said today that it had sold its remaining shares in Norwegian Air for NOK892 million (US$87.80 million), divesting a stake stemming from the airline's pandemic-era restructuring.
The Norwegian state, represented by Norway's trade, industry and fisheries ministry, said in a statement that it had sold its remaining 65.58 million shares, a 6.26% stake, at a price of NOK13.60 each.
The transaction was made at a 3.3% discount to yesterday's closing share price on the Oslo Bourse.
'The state has been clear from day one that we do not want to be a long-term player in Norwegian,' trade and industry minister Cecilie Myrseth said.
The government in May of 2021 issued a convertible loan to the carrier of NOK1.21 billion as the airline was undergoing reconstruction.
'The government still holds bonds in Norwegian that are due for repayment later this year and in 2026.
'Through its transactions, the state has made a profit of more than NOK500 million,' the government said today.
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