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Swedish central bank provides subsidiary Pengar i Sverige AB with SEK200m capital cover guarantee.

NORDIC BUSINESS REPORT-24 June 2004-Swedish central bank provides subsidiary Pengar i Sverige AB with SEK200m capital cover guarantee(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish central bank Riksbank said on Thursday (24 June) that it would provide its wholly-owned subsidiary Pengar i Sverige AB a capital cover guarantee of SEK200m.

"The guarantee is necessary to cover both remaining operating losses during 2004 and 2005 and one-off costs during the winding up of the company," Riksbank said.

Earlier in June an attempt to transfer Pengar i Sverige's assets and operations to Securitas Varde AB failed when the Swedish competition authority said that it would not allow the transaction until it had performed an extended investigation.

One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

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Title Annotation:Riksbank
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Jun 24, 2004
Words:142
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