Concejo acquires SBF Management AB
Concejo AB (publ), earlier called Consilium AB (publ) has entered into an agreement with Platanen AB to acquire SBF Management AB (SBM). The transaction is conditional, among other things, on the approval of Concejo's shareholders and the Swedish Financial Supervisory Authority.
SBM is a manager of alternative investment funds in accordance with The Alternative Investment Fund Managers Act (2013:561). Their business includes attracting capital to real estate funds that own rental housing in Sweden, where SBM creates value by acquiring, developing and long-term managing residential rental properties. SBM currently has approximately SEK 3 billion under management, with 2,700 apartments in 17 cities.
Concejo was advised by Mannheimer Swartling in the transaction, which is expected to be completed in the first half of 2021.