Update regarding the operations in St. Petersburg
In a press release published on October 7th 2022 Bonava AB (publ) announced that it had entered into a sales agreement with a Russian commercial and residential real estate developer named G-Group for the divestment of Bonava’s subsidiaries in Russia. The closing of the transaction is conditional on Russian authority approvals, which were stated as complex given the circumstances and geopolitical factors. Bonava has now received information from the buyer that makes Bonava make the judgment that it is unlikely that the buyer will receive the required approvals from the relevant authorities. Bonava is evaluating the received information and possible alternatives and will provide additional information when it is available.
For more information, please contact:
Lars Granlöf, CFO
lars.granlof@bonava.com
Tel: +46 790 631 609
Anna Falck Fyhrlund, Head of Investor Relations
Tel: +46 707 604 914
Fredrik Hammarbäck, Group Head of Press and Public Affairs
Tel: +46 739 056 063
This information is such that Bonava AB (publ) 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 16.00 p.m. CET on 17 November 2022.
Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. The company is the first residential developer in Europe to receive approval from the Science Based Targets initiative for its climate targets. With its 2,100 co-workers, Bonava develops residential housing in Germany, Sweden, Finland, Norway, St. Petersburg, Estonia, Latvia and Lithuania, with net sales of approximately SEK 15.5 Bn in 2021. Bonava’s shares and green bond are listed on Nasdaq Stockholm.
For more information about us, visit: bonava.com