Öckerö Fastighets AB divests Öckerö Stadsnät AB to Local Connect Holding Sweden AB

Öckerö Fastighets AB, a company wholly owned by Öckerö Municipality, divests its city network operations through a sale of its wholly owned subsidiary Öckerö Stadsnät AB to Local Connect Holding Sweden AB.

Öckerö Fastigheter initiated a review of the city network operations in the municipality in 2023, after which the company’s board of directors decided in November 2024 to propose that the municipal council of Öckerö Municipality approve a sale process. The municipal network operations have been conducted in Öckerö Municipality since 2011 under the brand “Öckerö Nät” and currently have approximately 3,900 customer connections, including residential customers, public services such as schools, nursing homes and health centers, as well as commercial customers such as businesses and mobile phone masts.

The transaction is subject to regulatory approvals and approval by the municipal council of Öckerö Municipality. Mannheimer Swartling advised Öckerö Fastighets AB in the transaction.