Sweden’s financial regulator (Finansininspektion – FI) has ended its investigation of Investor over the purchase of Scania shares.
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The investigation was begun because Investor fell foul of mandatory bid rules when it acquired additional shares in Scania last week.
Combined with shares owned by the Wallenberg group, which owns Investor, the purchase raised the group’s voting rights to over 30%. This is the trigger level at which a shareholder would normally be required to register its intent to take over a company.
Investor raised its voting rights from 19.3% to 20.1% at the beginning of last week. Wallenberg Group also owns shares and this raises their combined voting rights to 30.6%.
Swedish newspaper, Dagens Industi, reported that Investor may have to pay a fine, rather than sell shares.
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