Kungsleden divests remaining holdings in Nordic Modular Group to Inter IKEA Investments
Kungsleden divests its remaining holdings in Nordic Modular Group, approximately 34.5 per cent of the shares of the company, to Inter IKEA Investments with a sales price equal to a valuation of the entire company of SEK 1.45 billion. The transaction is subject to approval by the Swedish Competition Authority and is expected to close no later than 31 January 2016.
Nordic Modular Group conducts development, manufacture, sale and rental of relocatable buildings for professional customers in the Nordic countries. Inter IKEA Investments is part of the Inter IKEA Group and focuses on investments in non-listed Swedish companies. Kungsleden is a Swedish real property company, listed on NASDAQ Stockholm since 1999, with a real property portfolio consisting of commercial properties.
Kungsleden was advised by Mannheimer Swartling in the transaction. The firm’s team consisted of Jan Holmius and Jonas Andersson.