February 3, 2017 - Assignment

Castellum carries out the sale to Diös of SEK 4.5 billion

After Castellum's acquisition of Norrporten, the second-largest real estate deal in Sweden of all time, Castellum announced that divestments were to be made to finance the acquisition of Norrporten. Therefore, Castellum has during the autumn of 2016 entered into share purchase agreements for the sale of a major real estate portfolio divided into four transactions and at a total sales price of just over SEK 5.7 billion.

The largest of the four transactions concerns the sale of ten properties in Sundsvall, 13 properties in Umeå and nine properties in Luleå, to Diös Fastigheter AB. The sales price amounted to SEK 4.5 billion, after deductions for estimated deferred tax of SEK 100 million. The share purchase agreements were signed 21 November 2016 and the closing of the transaction took place on 1 February 2017, after the approval at Diös’ extraordinary general meeting of issuing new shares and the approval of the Swedish Competition Authority.

Castellum was advised by Mannheimer Swartling in the transaction.