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ARTICLES TAGGED WITH "SBB"

Swedish police agency wants to terminate lease agreement with SBB and K2A

Sweden — The police authority wants to leave the agreement regarding the construction of the new police station in Västerås, and the reason stated is that the costs have dragged on, something that the local newspaper VLT was the first to report on. The construction is run by the company Slaggborn, which is owned 50/50 by K2A and SBB, but from the contractor's side they put a lid on the situation and the company's project manager Per Högdin leaves only one comment to Nordic Property News.

SBB's CFO leaves the company

Sweden — SBB announces that CFO and Deputy CEO Eva-Lotta Stridh has decided to leave her position. Eva-Lotta Stridh has been the CFO of SBB since 2016 and will remain in her position during the period of notice of three months.

SBB shares clarification regarding Q2 report

Sweden — An editing error in the balance sheet was noticed. SBB corrects the mistake.

SBB considers IPO of residential business

Sweden — SBB is considering carving out its entire residential business with a portfolio of SEK 36.5 billion (EUR 3.2 billion) for an initial public offering, according to sources to Bloomberg news.

July transaction: SBB sells to Höganäs Municipality for SEK 104 million

Sweden — In July, SBB entered into an agreement to sell four properties in Höganäs to Höganäs Municipality.

S&P lowers SBB's long-term credit rating to CCC+ with negative outlook

Sweden — On Friday, S&P lowered SBB's long-term credit rating to CCC+ from BB- with a negative outlook.

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.

SBB enters into LOIs with tenants to sell properties

Nordic — Samhällsbyggnadsbolaget i Norden has entered into LOIs with existing tenants that intend to acquire properties in which the tenants conduct business. The agreed property value in the deals amounts to over SEK 3 billion (approximately EUR 273 million). Signing of binding agreements and closings is planned for the third quarter of 2023.

SBB and FGF sells in Nykvarn

Sweden — SBB and FGF sells the property Tillbringaren 2 in Nykvarn with a property value of SEK 221 million (approximately EUR 20.1 million).

SBB in discussions to sell its education portfolio

Nordic — SBB enters into exclusive discussions to sell the remaining 51 percent of the social infrastructure portfolio for public education.

Stock expert on SBB's future on the OMXS30 list

Sweden — On July 1, it is time for Nasdaq Nordic's largest index, OMXS30, to make the next revision regarding which 30 stocks will be included in the coming six months. SBB was included almost a year ago and is one of the most traded shares in the index, but the question is whether the turbulence in the company and the volatility in the share could endanger the company's place in the index? Nordic Property News reviews the factors that could lead to an exclusion and Aktiespararna's general counsel Sverre Linton gives his view on SBB's future in the index.

S&P lowers SBB's credit rating again

Sweden — The credit rating agency Standard & Poor's downgrades its long-term credit rating on SBB once again, this time to BB- with a negative outlook, from BB+. At the same time, the credit rating for the hybrid bonds is also lowered to B- from B+, while the short-term credit rating B is maintained.

Roger Akelius: "Leiv is needed at SBB"

Sweden — For Nordic Property News, Akelius founder Roger Akelius comments on Friday's big bombshell in the real estate industry – that Ilija Batljan is resigning as CEO of SBB and will be replaced by Akelius CFO and Vice President Leiv Synnes.

Leiv Synnes replaces Ilija Batljan as CEO of SBB

Nordic — SBB replaces Ilija Batljan as CEO. Leiv Synnes, current CFO and Deputy CEO at Akelius, takes the helm at the company.

SBB slaughtered on the stock market in May

Nordic — May was a gloomy and pitch-black month for the listed nordic real estate companies, where crisis-hit SBB fell wildly and lost 70 percent in value. Nordic Property News presents a list of the companies' losses on the stock exchange during the fifth month of the year.

SBB Valuates Options – the Company Might Be Sold

Sweden — The Board of Directors of SBB has decided to broaden its review of strategic options in order to maximize value for SBB's shareholders.

Well Known Trio Starts New Real Estate Company: "Like Hemfosa"

Sweden — The former SBB duo Lars Thagesson and Oscar Lekander have together with Hemfosa acquaintance Bengt Kjell started a new property company called Treholex. Lars Thagesson tells Nordic Property News about the investment, ambitions, acquisitions that have already been made and that the company will have to change its name: "Of course we can't have that name"

"SBB's Challenges Not Representative of the Entire Sector"

Sweden — Despite the fact that it has been difficult in recent months, fund manager Peter Norhammar believes that the real estate sector will give a positive return in 2023. For Nordic Property News he gives, among other things, his view on SBB's vulnerable position after the rating downgrade, why the problems are piling up for the company and how the rest of the companies are holding up when the turbulence spills over into the entire sector.

SBB Sells Shares in JM for SEK 2.8 billion

Sweden — SBB has sold 19 million shares in JM to Swedish and international investors. The transaction represents approximately 29.5 percent of the outstanding shares and votes in JM and was priced at SEK 148.10 per share, resulting in a total purchase price of approximately SEK 2.8 billion. The price per share corresponds to the closing share price in JM on Nasdaq Stockholm on 11 May 2023.

Share Price Cut in Half – Here Is How Neobo Will Convince the Market Now

Sweden — SBB's housing spin-off Neobo has seen its share price halved since the listing on February 10, from SEK 16 down to around SEK 8. On Wednesday, the company submitted its first quarterly report since the separation from SBB and Nordic Property News got an interview with the company's CEO Ylva Sarby Westman. Among other things, she talks about the upcoming measures to strengthen the company, the views on the transaction market and how to succeed in convincing the market of the company's strengths.

"The Worst Thing that Could Happen to Ilija Batljan"

Sweden — SBB's B-share had its worst day ever on the stock exchange and dropped more than 24 percent on Tuesday, a further deterioration after Monday's loss of just over 20 percent. The collapse in SBB also dragged the entire real estate sector with it, which fell by more than 4.5 percent. Aktiesparna's general counsel Sverre Linton tells Nordic Property News that SBB is an incredibly pressured company that now needs to find convincing solutions to resolve its refinancing. He also gives his view on Ilija Batljan's future in the company.

SBB Slaughtered on the Stock Market after Downgrade

Sweden — SBB's B share fell almost 20 percent on Monday, the second worst day for the stock ever, and the D share fell even more by over 26 percent during a blood-red day on the stock market for Ilija Batljan's real estate company. The sharp decline came after credit rating agency S&P downgraded SBB's credit rating to BB+, or "junk status", with a negative outlook. Read SBB's comment on the downgrade and parts of S&P's negative analysis.

SBB Stops Payment of Dividend and Revokes the Rights Issue of Ordinary D-shares

Nordic — The board of directors SBB announces its intention to stop the resolved payment of dividend and instead postpone the payment date to occur at the latest ahead of the annual general meeting 2024. The company also declares that it will not carry out the previously announced rights issue of ordinary D-shares of SEK 2.63 Bn.

Head of IR Leaves SBB

Sweden — SBB's Head of IR, Marika Dimming, has left the company, according to Dagens Industri.

The Three Paths' that SSB can Choose for Sveafastigheter

Sweden — At the end of February, SBB announced that it was investigating the possibility of listing the subsidiary Sveafastigheter - during last Friday's presentation of the Q1 report Ilija Batljan announced that there are two further choices the company can take regarding Sveafastigheter's future. SBB's CEO also comments on the continued sales ambition for 2023.