Bankruptcy | SAS AB | 9th October 2023
SAS AB has reached a major milestone in its ongoing chapter 11 process in the U.S. The details and final documentation for the agreed transaction structure remain to be finalized between the Investors and SAS. The confirmation and effectiveness of the Chapter 11 Plan remain subject to various conditions precedent, including approval by the U.S. Bankruptcy Court for the Southern District of New York. SAS will continue to operate and serve its customers as usual throughout the implementation of the transaction, which is likely to entail a filing by SAS AB for a company reorganization in Sweden in 2024. As a result of that process, all of SAS AB’s common shares are expected to be delisted in the second quarter of 2024. Holders of common shares in SAS AB are expected to receive no value and, by operation of the Swedish Reorganization, all common shares are expected to be cancelled for zero consideration and delisted from Nasdaq Stockholm, Nasdaq Copenhagen and Oslo Bors. This is intended to be carried out through a reduction of SAS AB share capital, combined with a redemption of all common shares in SAS AB as set out in a Swedish Plan to be approved by the District Court of Stockholm. The expected last day of trading in the common shares of SAS AB on the respective exchanges, as well as the expected date of completion of the redemption, will be announced in due time before approval of the Swedish Plan. Solactive AG will remove SAS AB giving 2 business days notice.
The treatment below will be applied to the following indices:
- SAS AB will be removed from the Index.
- The weight of SAS AB (SAS.ST) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 09/10/2023
RAFI Fundamental Global All Company Index NTR
RAFI Fundamental Global All Company Index PR
RAFI Fundamental Global All Company Index GTR
Solactive ISS ESG Screened Nordics All Cap Index NTR
Solactive ISS ESG Screened Nordics All Cap Index PR
Solactive ISS ESG Screened Nordics All Cap Index TR
Solactive ISS ESG Screened Sweden All Cap Index NTR
Solactive ISS ESG Screened Sweden All Cap Index PR
Solactive ISS ESG Screened Sweden All Cap Index TR
Solactive Nordic Investable Market Index NTR
Solactive Nordic Investable Market Index PR
Solactive Nordic Investable Market Index TR
Solactive ISS ESG Screened Paris Aligned Nordic Index NTR
Solactive ISS ESG Screened Paris Aligned Nordic Index PR
Solactive ISS ESG Screened Paris Aligned Nordic Index TR