John Mattson to acquire further shares in HEFAB and EFIB becoming the majority owner of both companies
John Mattson has entered agreements to acquire further shares in HEFAB Fastighets AB (HEFAB) and EFIB Aktiebolag (EFIB). As a result, John Mattson will control a total of 95% of HEFAB and 99% of EFIB.
John Mattson has previously announced that it has entered agreements to acquire shares in HEFAB and EFIB. John Mattson has now acquired a further 27% of the shares in HEFAB and 41% of the shares in EFIB. EFIB is the largest shareholder in HEFAB with 36% of the shares.
The purchase consideration for the recently acquires shares amounts to SEK 1,489 million. The consideration for these shares will be paid with a combination of cash and through a non-cash issue of 1,587,406 shares at an average issue price of SEK 151.50 per share. The non-cash issue will be completed with the support of the authorisation from the Annual General Meeting on 22 April 2021. The number of shares in John Mattson Fastighetsföretagen AB (publ) will increase following the completed issue from 34,717,309 to 36,304,715, corresponding to a dilution of approximately 4.4% of the total number of shares and the total amount of votes in John Mattson.
In total, acquisition agreements have been entered entailing that John Mattson controls a total of 95% of the shares and votes in HEFAB and 99% of the shares and votes in EFIB. The total purchase consideration amounts to SEK 3,392 million, of which SEK 399 million will be financed with a non-cash issue.
For HEFAB, the transfer of 32% of the shares will be completed on 31 August 2021, and the transfer of 27% of the shares will be completed on 30 September, provided that none of the sellers use their post-transfer acquisition right on the 31 August 2021 at latest. For EFIB, the transfer of 45% of the shares was completed on 6 July 2021. The transfer of 34% of the shares in EFIB will be completed on 31 August 2021 and the transfer of 20% of the shares will be completed on 30 September.
The total property value of HEFAB and EFIB, including two ongoing housing projects in Hägerstensåsen and Högdalen, amounts to SEK 5.3 billion with a rental value of SEK 200 million. With the acquisition of an attractive property portfolio, John Mattson is increasing its exposure for housing in Stockholm and adding ongoing and future projects. The acquisition will increase the attractiveness of John Mattson in the financial markets and create volume benefits. Based on John Mattson’s property value at the end of the first quarter, after adding the acquisitions of HEFAB and EFIB and the previously announced acquisition in Sollentuna that will be taken possession of on 1 October, John Mattson’s total property value is estimated at SEK 14.4 billion.
“We are very pleased to have acquired this unique property portfolio in Stockholm. EFIB and HEFAB are two excellent companies with well-maintained portfolios and a tradition of long-term management, which makes them suitable additions to our property portfolio. John Mattson will now be a presence in additional attractive submarkets, such as Bromma and Hägersten, and the acquisition also provides interesting project opportunities,” comments John Mattson’s CEO Siv Malmgren.
Lindahl Winter and Wigge & Partners have acted as advisors for John Mattson in connection with the acquisitions.
The acquisitions in brief*:
Number of properties/leasehold properties: 36 (including 6 project properties)
Area: 100,000 m², of which 75% housing
Number of apartments: 1,200
Property value: SEK 5.27 billion
Rental value: SEK 200 million
Net operating income: SEK 145 million
Income from property management: SEK 102 million
* Includes ongoing projects in Hägerstensåsen and Högdalen. The summary is based on information from the acquired companies and our own assumptions.
Lidingö, 17 August 2021
John Mattson Fastighetsföretagen AB (publ)
For further information, please contact:
Johan Ljungberg, Chairman of the Board, John Mattson
+46 (0)73-960 58 87, johan.ljungberg@tagehus.se
Siv Malmgren, CEO of John Mattson.
+46 (0)70-539 35 07, siv.malmgren@johnmattson.se
This information is information that John Mattson Fastighetsföretagen AB is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 p.m. CEST on 17 August 2021.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property owner with 2,800 rental apartments, and has operations in five municipalities of Stockholm: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 31 March 2021, the property value was SEK 8.2 billion. The focus of the company’s strategy is on property management, refinement, densification and acquisitions. The management of John Mattson’s properties is characterised by an overall perspective and close customer relationships. The company’s goal is to create great neighbourhoods across generations. John Mattson’s shares are listed under the symbol JOMA on Nasdaq Stockholm, Mid Cap.
Read more at: johnmattson.se and corporate.johnmattson.se