Bloomberg News

Green Cargo of Sweden Seeks to Sell 3rd-Party Logistics Business

February 03, 2012

Feb. 2 (Bloomberg) -- Green Cargo AB, a transport and logistics company owned by the Swedish government, is considering selling its logistics operations, Mats Hollander, a company spokesman said.

“We are looking at the possibility of selling the third- party logistics business,” Hollander said in an interview today. “We’ve seen that there is interest.”

The Swedish government is selling off state-owned companies in an attempt to reduce the country’s debt. Since he was elected in 2006, Prime Minister Fredrik Reinfeldt has sold V&S Vin & Sprit AB, the maker of Absolut vodka, property company Vasakronan AB and its holding in stock-market operator OMX AB. The government also has a mandate to continue cutting its 13 percent holding in Nordea Bank AB.

Green Cargo’s third-party logistics unit had an operating income of about 1 billion kronor ($149 million) in 2011, Hollander said. Sweden’s state-owned companies are worth about 600 billion kronor, with combined sales of 373 billion kronor and a net income of 55.6 billion kronor in 2010.

--Editors: Chris V. Nicholson, Jacqueline Simmons

To contact the reporters on this story: Adam Ewing in Stockholm at aewing5@bloomberg.net; Johan Carlstrom in Stockholm at jcarlstrom@bloomberg.net

To contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net; Jonas Bergman at jbergman@bloomberg.net


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