This corresponds to a holding of 29.55 per cent of the shares and votes in SSM as per today’s date. The total purchase price amounts to SEK 116,000,000. Closing is conditional upon an extra general meeting in SMM that approves the sale of the projects to Clear Real Estate Holding AB and the approval of the agreement for cooperation between SSM and Masugnen 1 Fastighets AB.

“SBB has one of Sweden’s largest building rights portfolios, corresponding to 20,000 to 24,000 apartments. This acquisition gives us further exposure to an expanding Stockholm,” comments Ilija Batljan, CEO and Founder of SBB.

SSM obtains the bondholders’ approval of amendment to the terms of the company’s outstanding bonds. Closing is expected to take place on 16 March 2020.