Public Asset Management Companies: A Toolkit by Caroline Cerruti; Ruth Neyens

Author:Caroline Cerruti; Ruth Neyens
Language: eng
Format: epub

Establishment and Early Years

The portfolio transferred to Securum consisted of over 3,000 loans to 1,274 companies (of which 790 were limited liability companies, the largest being Nobel Industries). The book value was SKr 67 billion, with a total transfer price of SKr 50 billion to account for loss reserves, and it represented about 20 percent of Nordbanken’s total loan portfolio (table 4.5). Loans represented 90 percent of the portfolio, and the remainder was shares and real estate. The companies concerned were highly insolvent. Securum did not purchase its assets in exchange for any consideration. Instead, the loans together with the associated reserves were transferred to Securum and the government recapitalized Nordbanken directly.

Table 4.5 Securum and Retriva’s Portfolios

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