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SBB nears Hemfosa Fastigheter takeover after declaring offer unconditional

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SBB nears Hemfosa Fastigheter takeover after declaring offer unconditional

Samhällsbyggnadsbolaget i Norden AB (publ), or SBB, declared its takeover offer for fellow Swedish property company Hemfosa Fastigheter AB unconditional after gaining hold of approximately 87.8% of all outstanding shares in Hemfosa.

SBB, which is seeking to acquire Hemfosa Fastigheter in roughly 23.52 billion-Swedish-kronor deal announced in November, said Dec. 23 that it now owns 149,440,375 common shares and 9,087,963 preference shares in Hemfosa.

SBB extended the acceptance period for the offer up to and including Jan. 15, 2020, to allow remaining shareholders to accept the offer.

Settlement for shares already tendered in the offer is expected to take place on or around Jan. 3, 2020, while settlement for shares tendered during the extended acceptance period is expected to take place on or around Jan. 23, 2020.

As of Dec. 24, US$1 was equivalent to 9.41 Swedish kronor.