Kåpan manages occupational pensions for government employees. The working name for the new company is Svensk Infrastruktur AB ("Swedish Infrastructure"). In parallel with the transaction, SBB acquires 23 percent of the shares in the community service property company Stenvalvet from Kåpan and thus, together with Kåpan, becomes a major owner in Stenvalvet.
The properties that SBB sells to Swedish Infrastructure have an annual rental income of approximately SEK 584m and an operating net of SEK 435m. The leasable area is approximately 500,000 sqm. Of Swedish Infrastructure's total property value, approximately 64 percent consists of properties for law enforcement agencies (the Police Authority, Swedish Courts, the Swedish Prison and Probation Service and SOS Alarm) and the remaining properties are mainly used by other government agencies such as the Swedish Fortifications Agency and the Coast Guard.
“SBB is already Europe's leading owner of social infrastructure. Infrastructure in the form of properties for law enforcement agencies is central to the functioning of society. We now see it as very exciting that we, in collaboration with Kåpan, which is responsible for occupational pensions for government employees, establish Swedish Infrastructure as a long-term owner of Swedish government infrastructure. The intention is for the company to grow by SEK 10 – 15bn in the next few years through acquisitions but above all through projects,” comments Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
"We see the acquisition of shares in Stenvalvet as a strategic position in a well-run company in social infrastructure," continues Ilija Batljan.
“Kåpan's goal is to create a good, long-term sustainable and stable return on pension savers' capital at the lowest possible cost. The collaboration with SBB in the two companies meets those criteria and we therefore look forward to Swedish Infrastructure being able to contribute to long-term efficient development and management of the facilities and properties needed in government operations,” comments Gunnar Balsvik, CEO of Kåpan.
Swedish Infrastructure will be led by CEO Fredrik Hedén. Fredrik is currently responsible for Government Infrastructure at SBB.
Nordea, SEB, Vinge and Wistrand Advokatbyrå have been advisers to SBB.