Air France-KLM is increasing its ownership in SAS to just over 60 percent of the shares, according to a press release. The Danish state is retaining its ownership in the same size as before, just over 26 percent of the shares.
Air France-KLM owned almost 20 percent in SAS before the deal. The sellers of the shares are Castlelake and Lind Invest.
"The fact that Air France-KLM is becoming the majority owner is a decisive moment for SAS and a strong signal of confidence in the direction we are heading", says Anko van der Werff, CEO of SAS, in a press release.
"We are convinced that the airline's potential will continue to grow through deeper cooperation with the Air France-KLM group", says the company's CEO Benjamin Smith in a separate press release.
The acquisition requires approval from the authorities before it can be carried out.
KLM-Air France was the airline that took the lead among the major owners who entered SAS after the multi-year rescue operation in a bankruptcy proceeding that cleared away the large debts that had built up.
The European airline industry has, after the pandemic, moved towards fewer airlines where different companies have merged. KLM-Air France has mainly Lufthansa and British Airways owner IAG to compete with.
