Swedish electricity is cheap

A study conducted by consultancy firm NUS Consulting Group reveals that Swedish electricity prices are amongst the lowest in the world.

The list is based on the average price that a company consuming 5.4 gigawatt hours a year would pay for one kilowatt hour. Sweden is the fourth cheapest at 37.31 kronor per kWh. Italy is the most expensive at 76.35 kronor per kWh.

Stock market expects battle over Cloetta

DI reports that Cloetta Fazer’s share price soared last week when it became known that the Finnish majority shareholder Fazer had exceeded 50 per cent of votes and capital in the company and had put in a bid for the remaining shares at 240 kronor per share.

The share price rose above Fazer’s bid yesterday and many are now speculating that a new bidder could step in and raise the stakes. Swiss company Nestlé has been named as a possible bidder.

Blue 1 beats Finnish state

SAS’s Finnish subsidiary Blue 1 has won the dispute on the Finnish state’s purchase of flights for 2003. The Supreme Administrative Court, HFD, ruled that the Finnish state should pay 2.7 million kronor in compensation to Blue 1 as SAS and Blue 1 did not think that state owned Finnair competed along the same criteria for the state’s custom.

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.”