Completion of SBB's sale of properties for SEK 4.9bn to Nyfosa takes place today
As previously announced, on 10 June 2020, Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) signed an agreement for the sale of office properties totalling SEK 4.9bn to Nyfosa AB (“Nyfosa”). The transaction was conditional upon financing and approval from the Swedish Competition Authority (the “Competition Authority”). On 30 June 2020, Nyfosa announced that the financing condition had been resolved, and the Competition Authority has now announced a positive clearance. Hence, the transaction can be completed and closing will take place today.
“This sale is an important component in our efforts to achieve a BBB+ rating. All in all, SBB has divested properties of SEK 10.9bn since the acquisition of Hemfosa, which in combination with our strong financial position and diversified financing provide favourable conditions to deliver on our rating target no later than during the first half of 2021”, says Ilija Batljan, CEO and Founder of SBB.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, firstname.lastname@example.org
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B) and D shares (short name SBB D) are listed on Nasdaq Stockholm, Large Cap. The company’s preference shares (SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: email@example.com / +46 84638300). More information about the company is available at www.sbbnorden.se.