Lindex to stretch itself

Lindex MD Göran Bille announced plans yesterday to set up ambitious goals for the clothing chain. He also said that patience with the underwear chain Twilfit, which has been running at a loss, is wearing thin. The share price for Lindex rose by 8 per cent yesterday to 295 crowns after the company presented its interim report. Turnover for September-November 2004 amounted to 1,350 million crowns.

Investor reports

Wallenberg’s Investor is the first of the major companies to show the effects of new accounting regulations. The company now has to try and assess the market value of its unlisted holdings.

“It’s not that easy but we’ve done the best we can,” said finance director Lars Wedenborn at a press conference yesterday. Investor reported income before tax of 8,332 million crowns for 2004, compared to 1,003 million crowns for 2003.

Crestor continues to fall

Astra Zeneca’s cholesterol-lowering drug Crestor is continuing to lose market share in the US. Its share dropped by 0.2 per cent to 5.5 per cent during the first week of this year compared to the last week of 2004. The drop is thought to be connected with reports of a possible death of a patient in the UK who was being treated with the drug.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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Corporate deals set to take off in Sweden in 2011: report

Sweden is one of the hottest markets in the Nordic region for corporate mergers and acquisitions, according to a new report.

Eight out of ten managers at large Nordic companies surveyed by business consultancy KPMG expected the M&A market in Sweden to grow in 2011.

Corporate deal growth in Sweden’s neighbours Denmark, Norway, and Finland, meanwhile, was only predicted by about 60 percent of the survey’s respondents.

The results of the survey are published as part of an annual review of M&A activity published by KPMG entitled Competing for growth 2011.

“We see that both venture capital firms and industrial firms are well positioned for even more business in 2011,” Christopher Fägerskiöld, head of M&A advising for KPMG Sweden, said in a statement.

According to Fägerskiöld, venture capital firms have had a difficult time selling their holdings during the financial crisis, leading to a pent up need to sell.

“At the same time, they need to show they can make acquisitions, not least those who plan on taking in money for new funds,” he said.

Last year, there were 158 deals in which companies from outside the Nordics bought a Nordic company, an increase of 48 percent.

“The most notable example was that Volvo Cars was sold to Chinese Geely,” said Fägerskiöld.

“It’s the first time that a privately owned Chinese company has bought a large and well-known western European company. It may very well pave the way for similar acquisitions.”

Respondents to the survey singled out China as the non-Nordic country that will likely carry out the most deals in the Nordic region in 2011, followed by Germany and the United States.

“We see a large interest from Swedish industrial companies to strengthen their position in Asia by acquisitions or cooperation with local companies,” said Fägerskiöld.

Many companies feel pressure to act so that the competition doesn’t get to China first.”