Bonava frees up capital: divests Norwegian operations
Bonava has reached an agreement to divest its Norwegian operations to Union Residential Development, a Norwegian real estate fund. The purchase price is SEK 1.5 bn and the transaction is expected to be finalised no later than the third quarter of 2023. The deal is pending approval from Norwegian authorities.On 2 February 2023 Bonava stated that a strategic review of Business unit Norway had been initiated, due to low business volumes and a need for high investments in land. After evaluating several possible pathways, the group has come to the decision to divest the whole Business unit. The