SAS to sell Rezidor chain before floatation

27 October 2006
SAS to sell Rezidor chain before floatation

Scandinavian airline SAS AB has announced today it is to sell its stake in the Rezidor hotel chain.

The airline announced it would offload its 75% stake when it is listed on the Stockholm Stock Exchange later this year.

SAS acting chief executive Gunnar Reitan said the sale was: "In line with SAS's stated strategy of focusing on core airline activities."

He added that listing Rezidor on the stock exchange would benefit all parties and should be completed by the end of the year.

Rezidor's remaining major shareholder, US-based Carlson Companies is expected to increase its stake in the company from 25% to 35% during the SAS's sell-off.

Rezidor SAS, which operates 226 hotels in 49 countries, recently changed its name to the Rezidor Hotel group in preparation for the public listing. Its brands include Regent Hotels, Park Inn and Radisson SAS.

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By Emily Manson

E-mail your comments to Emily Manson]( to sell Rezidor chain before floatation) here.

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