SBB exits Studentbostäder, increases holdings in KlaraBo and Arlandastad and adds SEK 50m in liquidity
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") has today, through a subsidiary, entered into agreements to acquire shares in KlaraBo Sverige AB (publ) ("KlaraBo") and Arlandastad Group AB (publ) ("Arlandastad"), while divesting all of its shares in Studentbostäder i Norden AB (publ) ("Studentbostäder"). For accounting purposes, the transaction is expected to result in a positive net effect of just over SEK 100m, as KlaraBo and Arlandastad are recognised at net asset value. The transaction also includes cash proceeds to SBB of SEK 50m.
The transaction is in line with SBB’s strategy to focus its operations on its core holdings, simplify the portfolio and strengthen the financial flexibility.
“Through this transaction, we are increasing our exposure to our core holdings. In light of the ongoing merger between KlaraBo and Sveafastigheter, the investment increases our exposure to Sveafastigheter, one of our core holdings. At the same time, we are divesting a non-core holding, in line with our strategy, while releasing liquidity that can be used to reduce interest expenses or fund other value-creating initiatives.” says Andreas Morfiadakis, CEO.
Contacts
For further information, please contact:
Sebastian Westberg, Treasury Director & IR ir@sbbnorden.se, press@sbbnorden.se
About Us
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) invests in social infrastructure in the Nordic region. SBB develops and owns companies with the aim of creating leading companies within their respective business areas. The company holds significant ownership interests in a number of listed and unlisted companies, and conducts its operations through both direct and indirect management of assets within community service properties and residential real estate. SBB works continuously to develop and realize value over time, taking into account both financial returns and social benefit. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm. Further information about SBB is available at www.sbbnorden.se.