SWEDEN - The Swedish government has sold property company Vasakronan to AP Funds 1-4 for SEK41.1bn (US$6.9bn).
Mats Odell, minister for local government and financial markets, praised the transaction as one that was "good for Vasakronan and for Swedish households".
He added: "AP Fastigheter is a solid long-term owner, which made an offer that after an overall assessment is the best and represents the higher price of the two final offers. This transaction also means that the AP Funds improve their investment profile, benefiting current and future pensioners."
The deal would allow the Swedish government to amortise some of its public debt and create a strong property company with high potential for development.
Prior to the deal, the Swedish government took control of certain properties of national interest to ensure they remained under national control.
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.