November 17, 2020 - Assignment

Castellum acquires Lindström Invest

Castellum has acquired the Finnish real estate group Lindström Invest. Five office properties in Helsinki with a total lettable area of approximately 36,000 sq.m. and a property management organisation are included in the transaction. The acquisition price amounts to EUR 150 million, including overheads of EUR 7 million, of which EUR 81 million is paid as a share issue in kind and the remaining consists of takeover of debt.

The transaction is carried out as a share issue in kind, meaning that the sellers contribute all shares in Lindström Invest in exchange for receiving 4,061,745 newly issued shares in Castellum at a subscription price of SEK 203.64 per share, corresponding to a total value of approximately SEK 827 million.

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 98 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.3 million square metres. Castellum has business in 17 cities in Sweden and also in Copenhagen and Helsinki. The Castellum share is listed on Nasdaq Stockholm Large Cap.

Castellum was advised by Mannheimer Swartling in the transaction and in connection with the share issue in kind.