Peab sells properties to Storebrand

Peab’s subsidiary Annehem has sold the real estate property Värdshuset 3 at the district Hyllie in Malmö to SPP Fastigheter, a company in the Norwegian financial and insurance group Storebrand. The property has a total lettable area of ​​4,300 sqm and is strategically located adjacent to the City Tunnel station on Hyllie. It contains both offices and business premises.

Annehem has also signed a letter of intent to sell a real estate property located one kilometer from Märsta center north of Stockholm to SPP Fastigheter. The property consists of four apartment buildings with a lettable area of ​​in all 7,000 sqm. These buildings are under construction and expected to be completed by mid- 2014.

The total purchase price for the two properties amounts to SEK 417 million.

- The real estate property i Hyllie has a great location. Production of the next phase with a hotel with 300 rooms, large conference facilities and with Choice Hotels as operator has started. Now we focus on efforts to further develop the area and plans for the highest building, which is stage 4, says Annehem's MD Pia Andersson.

- We are very pleased to have acquired the property in Hyllie and we look forward to completing the deal in Märsta. Both projects are in line with our strategy of establishing ourselves in an environmentally sound manner in areas with good development potential, says Marita Loft, GM Storebrand Real Estate.

For further information, please contact:

Pia Andersson, GM Annehem +46 705 906164

Marita Loft, GM SPP Fastigheter +46 709 605464

Gösta Sjöström, C I O Peab +46 733 371010

Peab is the Nordic Community Builder with some 14,000 employees and about SEK 45 billion in net sales. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.