November 27, 2020 - Assignment

Castellum announces a share exchange and cash offer to Entra's shareholders

Castellum invites Entra to join forces through Castellum making a share exchange and cash offer to Entra's shareholders. The offer consideration consists of a combination of newly issued shares in Castellum and cash for Entra shares, and values Entra to approximately NOK 31.1 billion.

The proposed combination is expected to create substantial value for all shareholders in the combined company through the creation of the leading Nordic commercial real estate platform, with an aim to establish the most sustainable property company in Europe, while preserving the top-class corporate governance structures that both Castellum and Entra enjoy today.

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.

Entra is a leading owner, manager and developer of office properties in Norway. Entra is focused on centrally located, high quality, environment friendly properties in the largest cities in Norway; Oslo, Bergen, Stavanger and Trondheim. As of 30 September 2020, Entra owned and managed approximately 1.3 million square metres in 90 properties, and the property amounted to NOK 51.8 billion. The Entra share is listed on Oslo Stock Exchange.

Castellum is advised by Mannheimer Swartling on the offer.