December 14, 2012 - Assignment

Kungsleden divests stake in Hemsö and signs property purchase agreement

Swedish listed property company Kungsleden AB is selling its 50% stake in Swedish community services property company Hemsö Fastighets AB to AP3 (the Swedish Third Pension Insurance Fund) and receiving repayment of its shareholders’ loan for total proceeds of SEK 3.3 billion. Simultaneously, Kungsleden has agreed to purchase 15 properties in central Sweden and on the island of Gotland from Hemsö for a total purchase price of approximately SEK 1.6 billion.

Kungsleden has been advised by Mannheimer Swartling in the transactions. The firm’s team included partner Klas Wennström, primarily assisted by specialist counsel Charlotta Wallman Hörlin.