Mannheimer Swartling advises Aker in connection with PPI’s acquisition of a properties portfolio from SBB

Public Property Invest ASA (PPI) has entered into an agreement with Samhällsbyggnadsbolaget i Norden AB (SBB) regarding acquisition of a portfolio of social infrastructure properties at a total consideration of approximately NOK 34 billion.

The consideration consists of newly issued PPI shares as well as cash, intended to be financed with e.g. debt as well as through a private placement of shares in PPI. Aker ASA (Aker), through Aker Property Group, has committed to subscribe for shares in the private placement in the amount of approximately NOK 1.3 billion. Aker has also committed to acquire newly issued PPI shares from SBB in the amount of approximately NOK 4.1 billion.

The transaction is subject to approval by the general meetings of PPI and SBB, respectively, as well as customary regulatory approvals.

Aker is an industrial investment company headquartered in Fornebu, Norway. Aker’s shares are listed on the Oslo Stock Exchange. Aker is the largest shareholder in SBB in terms of capital and the second largest shareholder in PPI.

Mannheimer Swartling advises Aker as to Swedish law. The firm’s team primarily consists of Patrik Marcelius, Victor Karlsson, Wilhelm Westberg, Isak Nodbrink, Gustav Glimblad, Max Karlsson and Frida Råhlander.