Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) announced on 26 June that SBB had entered into exclusive discussions with its existing partner, Brookfield Super-Core Infrastructure Partners (“Brookfield”), regarding a sale of SBB’s remaining 51 percent of SBB EduCo AB (“EduCo”) and repayment of the intercompany loan between SBB Group and EduCo (the “Transaction”). SBB today announces that the discussions on the Transaction have ceased between the parties. SBB does not rule out that the discussions can be resumed at a later point in time.
"Both SBB and Brookfield continue to be very supportive shareholders in the SBB EduCo joint venture and look forward to continuing our positive close collaboration as partners in the Nordics and the rest of Europe. The business is on a sound financial footing and continues to operate well for our tenants and partners.”, says Leiv Synnes, CEO of SBB.
Currently, the preparation is ongoing for the last of three partial closings in relation to the original transaction with Brookfield which was announced on 30 November 2022. The third partial closing is expected to take place within the coming weeks and will strengthen SBB’s liquidity by approximately MSEK 400.
For further information, please contact:
Helena Lindahl, Treasury director & IR, [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 21 July 2023 14:00 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.