The European Commission re-approves Denmark’s and Sweden’s participation in the 2020 recapitalization of SAS
The European Commission has today issued a new decision declaring the Kingdom of Denmark’s and the Kingdom of Sweden’s (collectively, the “States”) participation in the 2020 recapitalization of SAS as compatible State aid under the relevant EU rules, subject to the introduction of a “step-up mechanism” for the States’ share investments, as further described below. The contemplated step-up mechanism requires approval by the general meeting of shareholders in SAS AB (the “Company”), which is to be summoned in short order.In 2020, the States participated in the recapitalization of SAS through