Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB” or the “Company”) has entered into exclusive discussions, having recently received an expression of interest from Brookfield, to sell the Company’s remaining 51 percent of SBB EduCo AB (“EduCo”) and repayment of the intercompany loan of SEK 14.5 billion from EduCo to SBB. Under terms of the proposed transaction, SBB would retain the right to acquire shares in EduCo in the future. The parties’ intention is to enter into a share purchase agreement and related agreements during July 2023. These discussions do not constitute an obligation to complete a transaction and is subject to customary approvals, including anticipated customary competition clearance.
“The decision to enter exclusive discussions to sell EduCo is a strategically important decision for SBB which enables the creation of additional manoeuvring room in these challenging times, ” says Leiv Synnes, CEO of SBB.
“Previously, we have said that within the framework of the strategic review, we will act thoroughly and swiftly – and that is exactly what we are doing now. A sale of EduCo would entail that SBB enhances its liquidity and is able to reduce its indebtedness,” concludes Leiv Synnes.
For further information, please contact:
Helena Lindahl, Treasury director & IR, [email protected], [email protected].
This information constitutes insider information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26 June 2023 00:10 CEST.
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at www.sbbnorden.se.