SBB Acquires 20 Percent of the Shares in JM

SBB.

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SBB Acquires 20 Percent of the Shares in JM

Sweden — Samhällsbyggnadsbolaget i Norden has acquired 13,975,000 shares in JM at a price of SEK 326.30 per share from OBOS, corresponding to SEK 4.56 billion. The transaction corresponds to 20.08 percent of the shares and votes in JM, thus making it an associated company to SBB. SBB’s profit from property management is expected (based on JM’s profit for the period April 2020-March 2021) to increase by approximately SEK 300 million on an annual basis as a result of the acquisition.

2021-06-07

SBB is the Nordic region’s leading society builder and largest property developer with a building rights portfolio of 42,000 apartments with a majority of the building rights located in the Nordic region’s largest cities. The acquisition of the shares in JM adds exposure to another 37,300 apartments of which a majority is located in Stockholm and Uppsala.

“SBB’s focus on residentials and elderly care homes as well as new construction of residentials, as the society builder that we are, becomes even stronger through this deal. We are still only at the beginning of SBB’s value creation to its shareholders”, says Ilija Batljan, CEO and founder of SBB.

Axel Ohlsson

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