SBB announces its intention to carry out SEK 11 billion property sales
Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) is currently conducting negotiations regarding the sale of several properties and property portfolios for a total value of approximately SEK 11 billion.
“SBB, with a property value of over SEK 70 billion, has attractive assets which these sales clearly show. With these sales, we are preparing SBB for a BBB+ rating,” comments Lars Thagesson, Deputy CEO and COO at Samhällsbyggnadsbolaget i Norden AB.
Letters of intent have been entered into for two of these sales, whereof one sale corresponds to a substantial part of the total value of approximately SEK 11 billion. Properties that are intended to be sold have a large element of offices. The sales are expected to be executed at levels that exceed the latest valuation with 15 per cent. In accordance with the current timetable, the intention is to enter into binding agreements during March 2020.
The sale proceeds will be used to repay bank loans.
SBB discloses its intention to carry out these sales, due to the fact that letters of intent covering sales of SEK 10 billion have been entered into as at today’s date.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, email@example.com
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on January 17, 2020, at 16:30 CET.
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: firstname.lastname@example.org / +46 84638300). More information about the company is available at www.sbbnorden.se.