Carnegie transfers property operations

As part of its work on focusing on core operations within the four business areas, Carnegie Investment Bank AB will transfer responsibility for its property operations.

Based on a management agreement, Carnegie Investment Bank AB has previously assumed responsibility for company management and the administration of properties for the property company Carnegie Fastigheter Sverige AB (referred to below as CFS), which is owned by some 20 institutions. CFS owns properties in Stockholm, Gothenburg and Malmö, valued at approximately SEK 3 billion. A team of six, all employees of Carnegie Investment Bank, were responsible for the management of these properties.

In a joint decision with the investors of CFS, Carnegie has decided to transfer the administration of CFS’s properties to a new company that will be jointly owned by the investors of CFS and the property team at Carnegie. The new company will be responsible for the continued management of CFS and the property team at Carnegie. The new company will be responsible for the continued property administration.

Carnegie will retain its 1-per cent participating interest until further notice. This transfer will have a marginal impact on Carnegie’s earnings.