Norwegian oil fund continues to increase investment in Sweden
Wednesday, 10 July 2013
The Norwegian oil fund continues to increase its investments in Sweden
and has now expanded its ownership in the Swedish property company,
Wihlborgs.
Norway's oil fund is the largest fund and thus belongs to the region of
the absolute heavyweights when it comes to institutional investors. In
early July the Fund flagged for the first time that it was upping by
more than 5 percent its shares in Scania based property company
Wihlborgs .
"It's a quality stamp for us. They are long term and I am very happy
that they are looking at us, "says Anders Jarl to Swedish business
daily, Dagens Industri.
The Oil Fund in recent years gradually increased the number of shares
in Wihlborgs. Two years ago the fund was holding only half as large as
today.
With the latest deal, the Fund is strengthening its position as the
second largest shareholder in Wihlborgs after the company, Brinova
which is so far unchallenged one with 10 percent of the shares.
The Norwegian giant fund has so far been relatively passive investors.
However, it is about to change. In an interview with the Financial
Times in April, the fund's CEO Yngve Slyngstad said that Norwegians
will become more active owners.
In addition to its holding in Wihlborgs Norwegian, oil fund is also a
major shareholder in several of the giants on the Stockholm Stock
Exchange, including Astra Zeneca, ABB and Volvo AB.
by Scancomark.com Team