Stockholm - The Carnegie Investment Bank AB, taken over by the Swedish state in November, has been sold to two investment groups, the Swedish National Debt Office said Wednesday.

The National Debt Office said it would sell the shares in Carnegie Investment Bank AB and Max Matthiessen Holding AB for a total of 2.27 billion kronor (278 million dollars).

The deal with buyers Altor Fund III and Bure Equity AB included some future repayments of some loans awarded by Carnegie.

The Swedish Shareholders' Association said it was disappointed over the price, stating it was "way below" the combined value of the shares when Carnegie was taken over in November.

Approval from regulatory authorities is necessary. The transactions are likely to be completed within three months.

In all, there were some 20 potential buyers for Carnegie and over 30 for pension insurance advisor Max Matthiessen.

Carnegie lost its operating license November 10 after the Swedish Financial Supervisory Authority (FSA) criticized the bank on several points, including failing to amend faults in its oversight procedures, and giving large loans to a single client.

Carnegie is engaged in stockbroking, equity analysis, equity trading, asset management and advice on corporate acquisitions in the Nordic region, and has some 1,100 employees. (dpa)