JM selling its stake in Småa AB
JM has signed an agreement with Alm Equity AB for the sale of all of JM’s shares in Småa AB; the shares represent 35.7% of the shares and votes in the company. The purchase price for the shares is SEK 310m. For the transaction to be completed, a significant proportion of the remaining shareholders of Småa AB is required to sell its participations.
Occupancy and payment are expected to be completed during the first six months of 2017. Provided that the transaction is completed, it will result in earnings of SEK 275m, which will be reported as financial income. Over the past two years, JM has reported average financial income of SEK 9m as a result of its ownership in Småa.
“It is gratifying to have signed an agreement with Alm Equity, which has the ability to become a positive and long-term owner of Småa. JM has owned shares in the company since 1994, and has together with the other owners successfully developed the company into what is today an independent community developer of high-quality homes,” says Johan Skoglund, President and CEO of JM.
For additional information, please contact:
Pär Vennerström, Business Unit Manager JM Residential Stockholm, +46 (0)8 782 89 12
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on 2017-02-08.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 15 billion and the company has about 2,400 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.