Carnegie Investment Bank AB: Agreement between Carnegie and Maths O. Sundqvist.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. -- Carnegie's subsidiary, Valot Invest and Maths O. Sundqvist have today reached an agreement. As a consequence, the public auction that had been announced for Tuesday Tuesday: see week. has been cancelled. In brief, the agreement entails the following: * Valot Invest takes over the ownership of the Skrindan Group. * Maths O. Sundqvist's debt to Carnegie Carnegie (kärnĕg`ē, kär`nəgē), borough (1990 pop. 9,278), Allegheny co., SW Pa., an industrial suburb of Pittsburgh; inc. 1894. A steel town, it has coal mines and plants that make chemicals and electrical equipment. is written off in full. * Maths O. Sundqvist will continue to own certain assets in the province of Jamtland. * If, within five years, Carnegie recovers funds corresponding to the entire debt plus interest, Maths O. Sundqvist will have an option to share in part of surplus amounts. "We have reached an agreement that is favourable in both the short and the long term for Carnegie and other creditors", says Arne Berggren, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Valot Invest. "The focus can now switch to capitalising on and developing the value that exists in the Skrindan Group." "With this agreement, I have carried out my undertakings and wish all the best to the new owners of a fine company." says Maths O. Sundqvist. This information was brought to you by Cision http://www.cisionwire.com |
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