Heimstaden to Receive Deferred Purchase Price from Fredensborg for the Sale of Icelandic Portfolio

Following Heimstaden’s sale of Heimstaden ehf. to Fredensborg AS in October 2023, Heimstaden has today been notified by Fredensborg AS about its entry into a binding purchase agreement with SRE III slhf. (“Stefnir”).

Upon transaction closure, Heimstaden will receive the net deferred purchase price of approx. SEK 750 million in cash inflow*, based on today’s SEK/ISK FX rate. 

Closing is contingent on Icelandic Competition Authority approval, expected by end March 2024.

Deputy CEO Christian Fladeland comments:
"We are pleased to receive notification of the binding purchase agreement with Stefnir. Proceeds from the sale of the Icelandic portfolio will be used for liability management and continued deleveraging."

*Of the net deferred purchase price, SEK 123 million is already received as a dividend from Heimstaden ehf.

Contacts:
Christian V. Dreyer, CCO
+47 907 24 999
media@heimstaden.com

Malin Lethenström, IR
+44 7748 055821
ir@heimstaden.com

About Heimstaden:
Heimstaden is a leading European residential real estate manager and investor with around 162,000 homes across nine countries with a property value of SEK 321 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Care, Dare and Share – we fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Heimstaden is listed on Nasdaq First North Growth Market. Read more at www.heimstaden.com. Certified Adviser is Carnegie Investment Bank AB (publ).

This information is such that Heimstaden AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 7 March 2024 at 18:15 CET.