SAS Scandinavian Airlines (SK, Copenhagen Kastrup) has officially sold a controlling stake in Scandinavia's largest regional airline, Widerøe (WF, Bodø), to a Norwegian investor group consisting of Torghatten ASA, Fjord1 and Nordland County administration. SAS will, however, retain a 20 percent stake in Widerøe, which allows for the possibility of a complete divestment in Widerøe come 2016. As part of the transaction, SAS will sell seven Dash 8-400s to Widerøe which are currently leased by Widerøe from SAS. The loans related to these aircraft will be transferred to Widerøe. Additionally, three aircraft, currently not in use, have been sold from SAS to a leasor and will subsequently be leased back to Widerøe. Overall, SAS will receive approximately EUR235million (SEK2.0 billion) including the aircraft-related transactions, and up to EUR250million (SEK2.3billion) in total proceeds in the event of a full divestment in 2016. The transaction is still subject to customary closing conditions, including clearance from Norwegian competition authorities, and is expected to be consummated in September 2013.