In early December Rikshem’s board announced that they no longer had confidence in their Vice President Ilija Batljan.
 
This after he “initiated large real estate deals in his own company without informing the board” and that he “signed residential leases with another party without obtaining the views of the board”.
 
On the subject of the property deal, the audit report from KPMG reads, “it would have been suitable to inform the board before the conclusion of the lease, but we cannot suggest that the Vice President needs a written approval based on Rikshem’s formalized guidelines and employment agreement.”
 
Concerning the property deal it states that Batjlan asked for the board’s approval to acquire after submitting an indicative offern on a commercial property.
KPMG notes that Batljan should have obtained the board’s stance before placing the offer.
 
Incidentally, the acquisition was not carried through.
 
Ilija Batljan tells Fastighetssverige:
“I’m glad that the company conducted a thorough investigation and that it was done publically. Now everyone in the industry can see that I was freed on all points.
 
What are your feelings about the board firing you?
“I do not want to review the board. If you are the CEO or Vice President you have to live with having special terms and conditions. I am proud to have been a part in building Sweden’s largest real estate company.”
 
Ilijan Batljan is now betting on his own company, “I’ll get back to you with the name”,  he says.
“The aim will initially be real estate development with a focus on creating better conditions for new productions of housing. Today there is a lack of housing in 250 of Sweden’s 290 municipalities. The housing shortage is not, despite what people think, a large city problem. Further down the road I will also purchase social properties. A lot of people around the country know what I can contribute with concerning win-win situations for municipalities and real estate owners in these areas.”
 
You will be Rikshem’s rival?
“In some aspects we will work with the same things, but I will focus more on real estate development. But I do not view myself as a rival to anyone; I will be a complement and a partner.
 
What investors do you have up your sleeve?
“I will get back to you on that. But I have the privilege of having a few friends…”
 
How large will this company be in five years?
“The goal is to have a real estate value of approximately SEK 15-20 billion.”
 
When will the first deal be finished?
“April 1st. It will be fast.”