The agreed property value for the properties is a total of approximately SEK 2.1 billion (approximately EUR 191 million). The portfolio includes, among other things, a property that SBS has not yet taken possession of and which has consequently not been included in the company's accounts. According to SBS's preliminary calculations, the financial effects of a transfer on these terms mean that the company reports a loss of approximately SEK 170 million (approximately EUR 15.5 million), corresponding to approximately SEK 0.77 (approximately EUR 0.07) per share, based on the book value of the assets at SBS as of June 30, 2023.


SBS is considering the transaction in order to strengthen its liquidity and financial position.


The intention is for the buyer, an institutional investor, to take possession of the portfolio in two rounds. One access must be carried out shortly after the share transfer agreement has been entered into and the other access when the contract has been completed. The second access will also be subject to certain conditions.


The letter of intent implies an exclusivity for the institutional investor to negotiate with the company on the conditions for transfers of the properties but does not imply any obligation for any party to carry out the transactions. If the parties fail to agree on the terms of the transfer agreements, both parties can, at any time by notification to the other party, withdraw from the deal without any liability to the other party.


A possible transaction will be carried out by entering into two share transfer agreements and presupposes that the parties agree beforehand on the detailed conditions for such transfers, that the institutional investor carries out due diligence taking into account technical, legal, commercial, environmental, financial and tax aspects, that the buyer has previously obtained the necessary financing, and that the parties' respective boards and bodies approve these transfers. At this stage, there is uncertainty about the conditions for agreeing on a transfer.


SBS's financial advisor has been Catella.