Wanted to get Folksam help Northland leasing – Swedish Dagbladet

Sundstrom searched Folksam’s help when he wanted to let Northland leasing mining machinery of Swedbank. Photo: Linus Sundahl-Djerf & amp; Emma-Sofia Olsson

A few months before Anders Sundstrom was Chairman of Folksam spring of 2014, he would have tried to raise Folksam’s commitment to further mining giant Northland. The idea was to Folksam together with Swedbank to conclude the lease with Northland, as SvD Business could reveal earlier this week.

– It was a very important issue for Anders (Sundstrom editor’s note) to support the Northland. Through a lease so you could free up capital and instead rent the machines. Anders drove to Folksam together with Swedbank would make investments in mining machinery which would then be leased to the North Country, a source said.

The purpose of engaging Folksam will have been helping Swedbank to buy mining equipment from Caterpillar to a value of nearly 300 million. The machines would then be leased to the North Country.

The leasing transaction with Northland was controversial and questioned inside the bank, according to previous information in Dagens Industri. The bank’s credit department should have first said no and then to have been run over by the bank’s management, which should have been driven by the chairman Anders Sundström.

According to SvD will Sundstrom parallel to this, tried to induce Folksam, where he just leaving the CEO post and ran as president, to help. According to Svenska Dagbladet’s sources have Sundstrom tried to push the issue and initially received a certain pitch. But finally he received a no Folksam Asset Management.

– It took quite a long time, but finally put the asset into the foot (at Folksam editor’s note) and dismissed the proposal, said another source.

– What would an insurance company with Caterpillar to really?

Sundströms history Northland is long. He was instrumental in saving the mining company Northland Resources from bankruptcy nearly three years ago. When he was CEO of Folksam.

When the mine again thrown into crisis in November 2013 became Swedbank is the bank that would help save the company. It neither Swedbank nor Northland told was that the bank had plans to help the North Country with far more than just advice, something that FSA responded.

The example of the North Country is not the only one where Anders Sundstrom proposed investment and liked to affect management. When he was CEO of Folksam 2008, the news website E24 to report on various investment Sundström himself drove personally.

Anders Sundstrom tried including getting Folksam asset managers to buy shares in the mining and smelting company Boliden is based on the inside information that he received from the company. He must also have succeeded in pressing Folksam a few small investments in two private companies, Horizon Energy Mananagement AB and venture capital company Företagsinvesta AB.

SvD Business has sought Anders Sundstrom and Folksam for comments. Anders Sundstrom refers SvD Swedbank’s press department.