SAS Lands $308M In Sale Of Norwegian Airline

Law360, New York (May 3, 2013, 1:58 PM EDT) -- Scandinavian airline SAS Group will sell an 80 percent stake in Norwegian regional airline Wideroe's Flyveselskap AS for 2 billion kroner ($308.3 million) to a group of investors in a move to shore up the carrier's financial position, it said Friday.

SAS will hang on to a 20 percent share in Wideroe, but will have an option to transfer full ownership to buyers Torghatten ASA, Fjord1 AS and Nordland Fylkeskommune in 2016. SAS and Wideroe will continue close commercial cooperation after the transaction, according to SAS....
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