Alecta argues that the establishment of Heim Global Investor AS by Fredensborg AS / Ivar Tollefsen, and the investments into its fund, competes with the business of Heimstaden Bostad AB (publ) and thus constitutes a breach of the shareholders agreement. Heimstaden Investment AB disagrees, noting that Heimstaden Bostad AB (publ) is not active within the business of fund management and that the investment made by Heim Global Investor AS’s fund falls within the exemption to the non-compete undertaking in the shareholders agreement.

“Our ambition is, and has always been, to act in the best interest of Heimstaden Bostad and manage the joint investment to the benefit of all shareholders. It is unfortunate that it has not been possible to settle the matter amicably. We and our legal advisers are certain that we comply with all undertakings of the shareholders agreement and that the tribunal will conclude that we are not in breach with the shareholders agreement,” says Co-CEO of Heimstaden, Christian Fladeland.