SBB has closed the deal with Brookfield

Leiv Synnes, CEO of SBB.

Image: SBB

SBB has closed the deal with Brookfield

Sweden — SBB has completed the final accession with Brookfield in the deal that applies to 49 percent of the company's portfolio within social infrastructure for education. Thus, SBB receives approximately 400 million in cash.

2023-07-31

On 30 November 2022, SBB communicated an unconditional sale of a 49 percent stake in its social infrastructure portfolio for public education, Educo, to Brookfield for SEK 9.2 billion with an additional earn-out of up to SEK 1.2 billion.

The transaction is completed in three steps where the first step was completed on 18 January 2023, whereby SBB received SEK 6.6 billion in cash. The second part of the deal was completed on 31 March 2023 whereby SBB received an additional SEK 2.1 billion in cash payment.

The last part of the deal was completed on Thursday last week and SBB received an additional SEK 400 million. SBB intends to use the net proceeds from the transaction to strengthen the company's liquidity and financial position.

Andreas Lithander

[email protected] https://www.fastighetssverige.se