The board of directors of Hemfosa has unanimously recommended the shareholders of Hemfosa to accept the public offer made by SBB in a statement dated Nov. 15. The offering is valued at 23.5 billion crowns ($2.42 billion) in cash and shares.
SBB said the two companies’ property portfolios were complementary, covering services such as schools, elderly care homes and municipal offices as well as a smaller number of private rental properties.
Ilija Batljan, founder and CEO of SBB, commented, “With this transaction we are creating the largest social infrastructure property owner in the Nordics. The combined company would have an attractive and stable property portfolio characterized by exposure against the Nordic welfare states with long term leases, high occupancy rates and a diversified tenant base. It is a portfolio with notable low risk due to its unique combination of community service properties with the Swedish and Norwegian state as the largest tenants and
