Public offer for Ballingslöv (SE) by Stena AB (SE) — SEK 1.2 billion

Carnegie acted as adviser to Ballingslöv International AB in connection with the public offer from Stena Adactum and provided a fairness opinion in this respect to Ballingslöv’s Board of Directors. Ballingslöv International AB is one of the leading manufacturers of kitchen and bathroom furniture and storeage products in the Nordic countires and kitchen furniture in Great Britain.July, 2008.