Sweden May Sell Nordea Stake For $3B

The government of Sweden will sell about one-third of its stake in Nordea Bank.

The government of Sweden will sell about one-third of its stake in Nordea Bank, The Wall Street Journal reports. The government is planning to raise about $3 billion from the sale of a 6.3% stake.

The proceeds from the stake sale will be used to reduce state debt. Nomura has been appointed as global coordinator, while Morgan Stanley, SEB and Nomura will act as the joint bookrunners for the deal.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.