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CORPORATE

Reijmyre glassworks struggling to survive

Reijmyre Glassworks, Sweden’s second oldest after Kosta, and still Swedish, has been incurring losses ever since 1998. The owners, having invested in equipment and renovation, now plan to rescue it by placing it on the tourist map of Sweden in association with the municipality of Finspång.

Apoteket warning

The Pharmacists’ Federation has lobbied the government warning against the dangers of allowing off-prescription (over-the-counter) drugs to be sold via any other channels than the state-owned Apoteket. It would be a risk to health and to taxpayers, it claims.

Capona buys Choice Hotels

Property company Capona is buying Choice Hotels Scandinavia. 40 % of the shares have already been committed and the founder of Choice, Petter Stordalen, who is also a major shareholder in Capona, is expected to sign over his shares later.

RNB takes over cosmetics at NK

RNB has reached an agreement to take over c/o Departments & Stores, which has the franchises for cosmetics, underwear and accessories at leading department store NK.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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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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