Denmark

Denmark’s ATP Writes Down $324 Million Northvolt Stake, DR Says

Denmark’s biggest pension fund, ATP, is taking a major hit on its 2.3 billion-krone ($324 million) stake in troubled battery maker Northvolt AB, Danish broadcaster DR reported, according to Bloomberg News. ATP is one of the largest owners in Northvolt with a stake of about 5%. The value of that holding “probably won’t be very far from zero,” the asset manager’s Chief Executive Officer Martin Praestegaard told DR in an interview, stopping short of giving a specific amount for the writedown. “By far most of the investment is gone,” Praestegaard said, according to DR.
Denmark
Sweden
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Some Danish Lenders Face Risks From CO2 Tax, Central Bank Says

Denmark’s plan to tax agriculture emissions will lead to rising impairment charges for some of the nation’s financial institutions but won’t threaten financial stability, the central bank in Copenhagen said, Bloomberg News reported. A few “medium-sized” banks are most exposed to a higher risk of losses from loans to farmers, who “already have a vulnerable economy and must pay the additional tax for their CO2 emissions,” Nationalbanken said in a financial stability report on Tuesday.
Denmark
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SAS Emerges From Chapter 11 With Fresh Capital, New Chair

After a two-year-long bankruptcy process, Scandinavia’s flagship airline SAS AB is now under the ownership of Air France-KLM and private equity firm Castlelake LP, with former Novo Nordisk A/S executive Kare Schultz at the helm of its new board, Bloomberg News reported. The move comes amid much overdue airline consolidation in Europe in the wake of the Covid-19 pandemic, and a recent slowing in travel demand. It will also shore up Air France-KLM’s position in the Nordics, a reliable source of active travelers.
Sweden
Finland
Denmark
United States
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