The value of the bid is approximately SEK 1,861 million, which corresponds to approximately SEK 40.2 per share in Besqab. This can be compared with yesterday's closing price of SEK 27.90.

Besqab's board unanimously recommends the bid and the company's board has carried out a so-called fairness opinion from Öhrling's PricewaterhouseCoopers, which also gives its support for the deal.

The bid is supported by shareholders who represent 73 percent of the capital and votes in Besqab. The support for the deal with Aros Bostadsutveckling is 83 percent of the votes.

"Aros Bostad and Besqab are two well-regarded housing developers with complementary products and building rights portfolios. By merging, a new company is created with an even stronger market position, broader project portfolio and expanded product offering. The combination of a clear customer and sustainability focus, entrepreneurial business acumen and financial stability forms the basis for long-term profitable growth of the new company, with the aim of becoming Greater Stockholm's leading housing developer," says Aros Bostadsutveckling's CEO Magnus Andersson.

"Long-termism and stability are important success factors in the housing market. The fact that Besqab and Aros Bostad now intend to merge means that we are creating an even stronger player in the housing market in Greater Stockholm and Uppsala. The new company will build on the strengths of both businesses and a deep competence and experience in project development and project implementation," comments Carola Lavén, CEO of Besqab.

The merged company will be called Besqab AB and will have more than 8,000 building rights and a future ongoing production volume of approximately 2,500 homes per year in Greater Stockholm and Uppsala from 2025 onwards.

The new merged company also has its sights set on moving from First North to the main list in the latter part of 2024, as long as the conditions are right.

Aros Bostadsutveckling's CEO Magnus Andersson will become CEO of the merged company. The CFO from Besqab, Anna Jepson will become CFO of the merged company. The new group management will consist of executives from both Aros Bostad and Besqab, and Aros Bostadsutveckling's current chairman Per Rutegård is proposed to stay on. The new board will consist of existing members from both Aros Bostad's and Besqab's respective boards and include Olle Nordström (current board chairman of Besqab).