ARTICLES TAGGED WITH "SBB"

"I believe in continued JV structures rather than a bid for the entire company"

Sweden Sweden — Yesterday was dividend day in SBB and tomorrow the company has its annual general meeting where, among others, Lennart Sten is expected to be elected as the new chairman of the board. Nordic Property News discusses the situation for the pressured company with Arctic Securities analyst Michael Johansson.

Status of some of the industry's most stressed companies

Sweden Sweden — SBB is being pressured on the stock market, bankruptcy threatened Oscar Properties is getting ready to release its delayed annual report and Kvalitena is continuing with the reconstruction of the company. Nordic Property News goes thru the current situation regarding some of the industry's most pressured players.

SBB extends lease agreement with Hässleholm Municipality

Sweden Sweden — SBB extends lease agreement of 15 years with Hässleholm Municipality.

The splits of SBB Kåpan Bostad and Unobo are completed

Sweden Sweden — SBB announces that the splits of SBB Kåpan Bostad and Unobo are completed.

"Clearly negative that money is being allocated to dividends right now"

Sweden Sweden — Aktiesparna's analyst Robert Andersson lays out what SBB's latest JV means for the company's pressured liquidity – and how the imminent dividend of over SEK two billion goes against the company's endeavor to improve its balance sheet, but must still be carried out.

SBB and Kåpan signs agreement to divide SBB Kåpan Bostad

Sweden Sweden — SBB has agreed with Kåpan Tjänstepension to divide the jointly owned housing company SBB Kåpan Bostad AB, of which the parties each own 50 percent.

SBB establishes new JV with Castlelake which signs new loan agreement

Nordic — SBB establishes a new joint venture with Castlelake which signs a loan agreement of approximately SEK 5.7 billion (EUR 508 million).

SBB stands by the dividend in June – after that it stops

Sweden Sweden — It was a hopeful Leiv Synnes that presented SBB's Q1 report on Monday, where the company reported a negative but still improved result compared to the corresponding period in 2023 and where the rate of decline in property values has started to slow down precariously. Here, Leiv Synnes tells us more about his positive view of the market, the status of the company's deferred dividend and how they will continue to act to strengthen the company's liquidity.

SBB signs agreement for dissolution of Unobo

Sweden Sweden — As a step in SBB's efforts to eventually dissolve jointly owned residential property structures, SBB has signed a framework agreement with Riksbyggen regarding the dissolution of the joint ownership of the residential property group Unobo AB. Before the split, SBB owns 70 percent and Riksbyggen 30 percent of Unobo AB. SBB aims to coordinate its share of the properties within Unobo AB with Sveafastigheter’s residential portfolio. Riksbyggen continues to manage Unobo AB's portfolio until the end of 2024.

Listing day for SBB's spin-off PPI: "The price for current shareholders will be high"

Norway Norway — SBB's spin-off Public Property Invest (PPI) has now been listed on the Oslo Stock Exchange with the starting price set at NOK 14.50. The deal is worth a total of NOK 1,750 million and the company will initially get SBB's former CEO Ilija Batljan as CEO. Nordic Property News has spoken to savings economist and investment platform Levler's founder Joakim Bornold about why SBB is carrying out the special listing and what it means for the respective futures of both struggling companies.

SBB's associated company PPI announces Intention to Float on the Oslo Stock Exchange

Norway Norway — SBB-owned Public Property Invest (PPI) announces its intention to launch an initial public offering of new shares and apply for a listing on the Oslo Stock Exchange.

SBB wants to Riksbyggen's share in the JV Unobo

Sweden Sweden — SBB intends to buy Riksbyggen out of the jointly owned company Unobo, a company that SBB has owned 70 percent of since 2021. This is evident from a notification to the Swedish Competition Authority, according to Dagens industri.

Sveafastigheter appoints Erik Hävermark as CEO

Sweden Sweden — The board of Sveafastigheter has appointed Erik Hävermark as CEO of Sveafastigheter. He assumes the role of CEO immediately with a continued focus on executing the plan for ownership diversification of Sveafastigheter in 2024. At the same time, previously appointed Martina Lous-Christesen also assumes the role of CFO.

Pareto urges investors to "stay away" from SBB

Sweden Sweden — Pareto Securities repeats its sell recommendation for SBB and lowers the target price to SEK 2.5 from SEK 3.0. This is evident from an analysis that Nordic Property News has taken part in, where the analysis house writes, among other things, that "we continue to recommend investors to stay away and repeat our sell rating"

SBB establishes JV with Castelake

Sweden Sweden — SBB establishes a joint venture for community properties with Castlelake generating cash proceeds to SBB of approximately SEK 5.2 billion (EUR 474 million).

Lennart Sten proposed as new Chairman of SBB

Nordic — The Nomination Committee’s Board of Directors of SBB propose Lennart Sten pas new Chairman. He is proposed to succeed Lennart Schuss who has decline re-election as Chairman, but will continue on the Board of Directors.

SBB's PPI investigates the possibility of an IPO and listing on the Oslo Stock Exchange

Norway Norway — Samhällsbyggnadsbolaget i Norden's associated company Public Property Invest prepares for a possible initial public offering and listing on the Oslo Stock Exchange.

Large owners want to replace the entire board of SBS Norden

Nordic — Oltre Fund, Fastator and SBB, which together represent 40.72 percent of the votes and capital, have submitted a proposal to replace the entire board of Studentbostäder i Norden.

Viktor Mandel leaves Sveafastigheter

Sweden Sweden — When SBB announced on Monday that it is collecting housing assets worth 29 billion in Sveafastigheter before ownership dispersion, Erik Hävermark was listed as acting CEO of the company. Now the former CEO Viktor Mandel confirms that he is leaving Sveafastigheter completely. For Nordic Property News, he talks about the decision and about the CEO chair he instead continues in.

This is how the streamlining continues for SBB after Sveafastigheter

Sweden Sweden — SBB's CEO Leiv Synnes tells Nordic Property News that a listing of Sveafastigheter is one of the possible paths with the ownership dispersion that was recently announced. SBB also intends to go below 50 percent ownership in the soon-to-be-independent company. Here he tells more about how the streamlining of SBB will continue in the future.

SBB promises to start construction next year – may be fined if not

Sweden Sweden — SBB has promised Skellefteå municipality that they will be able to start construction of 280 homes in 2024, and has plans for another 200 that are awaiting detailed plans. The land instructions have been extended even though the municipality has repeatedly said that they will not do so unless the companies move forward and there may be a fine if they do not start as planned in 2024.

Lennart Sten becomes Senior Advisor to SBB's board

Sweden Sweden — Lennart Sten will assume office as senior advisor to the board of Samhällsbyggnadsbolaget i Norden on 1 February 2024.

Fredrik Svensson leaves SBB's Board of Directors

Nordic — The board member Fredrik Svensson has informed the Board of Directors of SBB that he will leave his position in SBB. Fredrik Svensson has been a member of the board since 2018, representing one of SBB’s largest shareholders, Arvid Svensson Invest.

Green light for SBB's transaction with Brookfield

Nordic — Financing condition related to SBB's Brookfield transaction has been fulfilled.

SBB sells to municipality

Sweden Sweden — When Fagersta municipality moved into the old Brukskontoret and Norra Station in the summer of 2021, it was as tenants of the real estate company Offentliga hus. Now, two and a half years later, the municipality is buying the properties from the current owners SBB through a company acquisition. The market value of the properties amounts to SEK 105 million (EUR 9 million).