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SBB D Samhallsbyggnadsbolaget I Norden AB News Story

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Brief: SBB Sells SEK 6.83 Bln Residential Portfolio To Klarabo In Share Deal

May 18 (Reuters) -  Samhällsbyggnadsbolaget i Norden SBBb.ST:

SAID ON MONDAY IS TO DIVEST SBB RESIDENTIAL PROPERTY AND RESIDENTIAL PORTFOLIO FROM SBB DEVELOPMENT TO KLARABO, VALUING ASSETS AT SEK 5.86 BLN AND SEK 973 MLN

CONSIDERATION WILL BE PAID IN KLARABO EQUITY: 32,600,001 CLASS A SHARES AND 74,997,402 CLASS B SHARES

SVEAFASTIGHETER AND KLARABO ADOPTED A MERGER PLAN

SBB STAKE IN SVEAFASTIGHETER IS SET TO FALL TO 58.5% FROM 63% ONCE TRANSACTION CLOSES

TRANSACTION EXPECTED TO GENERATE SEK 120 MLN IN ANNUAL SAVINGS AND TERMINATE MORGAN STANLEY JOINT VENTURE TIED TO SBB RESIDENTIAL PROPERTY THAT CARRIED 13% ANNUAL COST

Source text for Workspace: nNDL17LLMx
Further company coverage: [SBBb.ST]

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))

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