Agreement between Carnegie and Maths O. Sundqvist

Carnegie’s subsidiary, Valot Invest and Maths O. Sundqvist have today reached an agreement. As a consequence, the public auction that had been announced for Tuesday has been cancelled.

In brief, the agreement entails the following:

• Valot Invest takes over the ownership of the Skrindan Group.
• Maths O. Sundqvist’s debt to Carnegie is written off in full.
• Maths O. Sundqvist will continue to own certain assets in the province of Jämtland.
• If, within five years, Carnegie recovers funds corresponding to the entire debt plus interest, Maths O. Sundqvist will have an option to share in part of surplus amounts.

“We have reached an agreement that is favourable in both the short and the long term for Carnegie and other creditors”, says Arne Berggren, CEO of Valot Invest. “The focus can now switch to capitalising on and developing the value that exists in the Skrindan Group.”

“With this agreement, I have carried out my undertakings and wish all the best to the new owners of a fine company.” says Maths O. Sundqvist.