SAS AB (SASDQ) has released an update.
SAS AB has announced a reconstruction plan as part of its ongoing corporate restructuring in Sweden, which includes debt settlement proposals and the issuance of new unlisted shares to selected investors and unsecured creditors, while existing shares will be redeemed without compensation. The plan, already sent to concerned parties, will be negotiated in court, with a plan meeting expected around week 29, 2024, contingent on various conditions including regulatory approvals. SAS aims to complete the restructuring by summer 2024, aligning with conditions set in the Chapter 11 Plan in the USA.
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