Peab acquires 50 percent of Balder Fourteen
Peab has acquired 50 percent of Balder Fourteen from Property AB Balder. The total investment for Peab amounts to SEK 270 million.
Balder Fourteen contains all the 25 commercial properties earlier this year acquired by Catena AB from Balder. The portfolio is in good locations in Sweden and offers interesting exploitation and development opportunities. The book value of the stock amounted at December 31, 2010 to SEK 1.600 million.
- The acquisition must be viewed in the light of Peab's strategy to invest in real estate development. By taking a more active part of the property's development, we can learn more about our property-owning end-customers' needs and desires, "says Peab's MD Mats Paulsson a comment.
For further information, please contact:
Tomas Anderson, division manager Peab +46 706 344994
Jesper Göransson, CFO Peab +46 733 371013
Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
The information was submitted for publication at 11 a m. on 19 April 2011.
Previous press releases from Peab are available at www.peab.com
Peab is one of the leading construction and civil engineering companies in the Nordic countries with approximately 14,000 employees and a net sale amounting to around SEK 38 billion. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.