NP3 Acquires Portfolio for EUR 113M
Sweden Listed Swedish NP3 has acquired a portfolio of 53 properties in the North of Sweden from Sveavalvet. The transaction price is SEK 1.18 billion (EUR 113M).
NP3 will issue new preference shares worth MSEK 304 (EUR 29M).
"The acquisition strengthens NP3 in the company's core market, northern Sweden. We estimate that other properties are easily managed and can bring new interesting business opportunities. From a financial perspective, the acquisition means that NP3's earnings are strengthened and that exposure to individual properties as well as leases decreases. The new issue of preference shares means that the company's equity is unchanged while reducing the dilution effect for shareholders,” says Andreas Nelvig, CEO of NP3 Fastigheter.