Greenland looking to buy SAS, Denmark’s Air Greenland shares
SAS Scandinavian Airlines might sell its 37.5% stake in Air Greenland to the government of Greenland, the carrier announced on September 12, 2018.
The governments of Denmark and Greenland signed a political agreement on September 10, 2018. Part of the agreement states that the latter government “will look into” buying out Air Greenland shares from Denmark. However, the acquisition depends on whether or not the two parties will reach “satisfying agreements on a number of issues” – like price of shares, for instance.
“Furthermore, the acquisition of the shares owned by the Danish State is conditional on getting the necessary approvals from the relevant authorities,” is noted in a statement by SAS – the third share owner of Air Greenland.
Following the political agreement, SAS and the government of Greenland came to a similar understanding. “The Government of Greenland will consider buying the 37.5% stake in Air Greenland owned by SAS,” the airline reveals. “This potential acquisition is subject to the same terms and conditions as outlined above, and conditional on SAS AB board approval”.
Air Greenland – the flag carrier of Greenland − is jointly owned by the government of Greenland (37.5%), the government of Denmark (25%) and SAS, Scandinavian Airlines (37.5%).
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