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Competition Authority applies for cinema injunction

The Swedish Competition Authority (Konkurrensverket) yesterday applied for an injunction to stop the cinema chain SF Bio’s acquisition of its competitor Sandrew Metronome, claiming that the deal would be damaging to competition.

Getinge posts healthy Q4 growth

Health care provider Getinge posted a pre-tax profit of 574 million crowns for Q4 with sales rising by 19 per cent to 3.5 billion crowns.

Orders rose by 11.5 per cent during the quarter. Orders increased by 20 per cent in the Medical Systems business area to 1.23 billion crowns, with orders surging by over 53 per cent on the North American market.

Schibsted’s bid stands

Norwegian Schibsted has no plans to withdraw its bid for Finnish Alma Media despite the offer by Bonnier and Proventus to acquire Alma Media’s broadcast business.

Schibsted also says that it has made a profit of 200 million Norwegian kroner on the sale of Swiss newspaper 20 Minuten.

Oriflame’s Russian factory mystery

When Swedish Oriflame went public last year the cosmetics firm said that it was starting to build a new factory just outside Moscow. In reality, the company did not even have planning permission to build a factory – this arrived first in December 2004

MD Sven Mattsson cannot explain why the company has promised a building start for several years although nothing has happened.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

Supplied by BECK TRANSLATIONS.

With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

CHINA

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.”

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