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ARTICLES TAGGED WITH "SBB"

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

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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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).

CEO Leiv Synnes wants a wiser SBB

Sweden — SBB presents its report against the background of a few turbulent months. During the year, a large sales attempt was carried out to save the company in crisis. Ambition to be wiser and more thoughtful when it comes to liquidity, while also resolving debt.

SBB rejects acceleration notice from bondholder

Sweden — SBB rejects purported and ineffective acceleration notice from a bondholder regarding Eurobonds issued under its EMTN programme.

Exclusive with the global investor – these are Abrdn's aims for the Nordics

Nordic — In the spring the global investment company Abrdn appointed long time employee Anne Breen as its new head of real estate. In an exclusive interview with Nordic Property News she reveals what the transactions strategy looks like under her helm, how they view real estate in the Nordics and what opportunities they see in a market that has plenty of sellers.

SBB sells to Lovisenberg for EUR 245M

Norway — SBB has sold two properties to the tenant Stiftelsen Diakonissehuset Lovisenberg for NOK 2,815 million (EUR 245 million). The properties being sold are the hospital on Ragnar Ströms Veg 10 in Ullensaker of which SBB owns 100 percent and an adjoining development plot of which SBB today owns 65 percent, co-owning with a local developer.

Leiv Synnes on SBB's latest crisis measures

Sweden — SBB's CEO Leiv Synnes tells Nordic Property News about Sunday evening's big strategic transaction which means that SBB releases majority control over Educo and presents a new corporate structure. Read about the ambitions with the changes, how the new structure is intended to strengthen the company going forward and the plan for the housing portfolio.

SBB strengthens liquidity and decentralises group structure

Nordic — SBB strengthens liquidity with approximately SEK 8 billion (approximately EUR 729 million) and presents decentralised group structure.

Rosel Ragnarsson retires – Helena Lindahl takes over as Treasury Director of SBB

Sweden — Rosel Ragnarsson retires and Helena Lindahl who is today part of the management team has successively taken over areas of responsibility within financing and investor relations.

Daniel Tellberg named new Finance Director at SBB

Sweden — SBB strengthens its group management by appointing Daniel Tellberg as Finance Director. Daniel Tellberg currently holds the position of interim Head of Group Accounting and will take on his new role from the 1st of September. Daniel Tellberg will gradually take over responsibilities from the departing CFO Eva-Lotta Stridh. With this change, the current recruitment process for a new CFO ends.

SBB sells to Nykvarn Municipality

Sweden — SBBhas entered into an agreement to sell one property containing the town hall and nearby residential buildings in central Nykvarn to Nykvarn Municipality for SEK 191 million (EUR 17.4 million).

Major stock drop for SBB: "A dysfunctional company given the interest rates"

Sweden — SBB's B share plummeted over 16 percent on Monday and continued to drop slightly during Tuesdays early trading. On Monday evening the credit rating institute Fitch announced that it has lowered SBB's credit rating another five notches, down to B- from the previous BB+. Aktiespararnas analyst Robert Andersson says that SBB in its current form is a dysfunctional company given today's interest rates. "Either the company has to change or it will go under," he tells Nordic Property News.