Swedish investor triples money with Danske Bank stake

Cevian Capital has just sold the last of the Danske Bank equities it bought back in 2010, realising a huge profit on its investment. Investment opportunities are still to be had among Swedish or European banking shares, the Swedish investment firm says.
Ritzau

Swedish investment company Cevian Capital has recently sold the last of its shares in Danske Bank, tripling its original investment, according to the Financial Times. Since Cevian Capital invested in Danske Bank in 2010, the bank has soared from the bottom to the top of the MSBC list of banking stocks producing the highest return on equities. The banking sector has long been viewed as difficult for investors, especially due to the increased political focus on major banks in recent years.

Cevian Capital does not reject the possibility of new investments in Swedish or European banks. "I still think there are opportunities out there. But it is clear that the banking sector is a risky place to invest, because it can be very difficult for outsiders to understand how each bank works," says Lars Förberg, co-founder of Cevian and former member of Danske Bank's board of managers. In addition to Danske Bank, Italian Unicredit has also received capital from foreign investment companies, while British HSBC has recently refused a similar offer.

English Edit: Marie Honoré

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