Sweden’s Capio to acquire Spanish hospital group

Healthcare provider Capio is to acquire the Spanish IDC hospital group for 3 billion crowns. IDC is Spain’s largest privately owned healthcare group with 12 hospitals, one of which is the university hospital in Madrid.

As a result of the acquisition Capio not only gains a foothold on the Spanish market but Spain together with Britain will become Capio’s largest market.

Capio’s share price rose by 6 per cent to close at 90.25 crowns following the announcement of the deal.

Saab to compensate customers

Saab Automobile is to compensate all its customers who have had engine problems as a result of “faulty construction” in the Saab 9-5 and old 9-3 models between 1998 and 2003.

Compensation will be retrospective and will include an eight-year engine guarantee where all costs incurred by the customer will be reimbursed.

Christmas trading tops 50 billion crowns

Swedes spent more than 51.1 billion crowns in December, twice as much as the Swedish Research Institute of Trade (HUI) had forecast.

Retail sales, excluding Systembolaget and Apoteket, rose by 4.8 per cent in December, measured in current prices.

Grocery chain Axfood saw turnover rise by a mere 0.6 per cent to 33,8 billion crowns in 2004 with a net operating profit of 1,008 million crowns.

Low price chain Willy’s reported a 12 per cent increase in sales during the year although sales in the small stores Willy’s Hemma and Hemköp declined.

Mobile producer Nokia surprised the market on Thursday by announcing that it had a 34 per cent market share during Q4. The Finnish group posted a pre-tax profit of 13.3 billion crowns for Q4 – almost 2 billion crowns more than the market had expected.

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.”