The Norwegian Government has today submitted a proposal to Stortinget for approval of a change in the share structure of SAS, through which the shares in SAS Norge ASA held by the Norwegian State are exchanged for the same amount of shares in a newly formed holding company. Similar proposals will be submitted simultaneously from the governments in Denmark and Sweden to Folketinget and Riksdagen respectively.

In the proposal, the current share structure, with three separate companies and separately listed shares, will be replaced by a structure based on a holding company and a single SAS share. The single share will be listed on all three Scandinavian stock exchanges.

The Norwegian State’s share in the SAS Consortium will not change after the share exchange.