trending Market Intelligence /marketintelligence/en/news-insights/trending/vYZI5ARI1Oz5eQ2o8etqlg2 content esgSubNav
In This List

Castellum signs off on Säve Airport acquisition in Sweden

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Castellum signs off on Säve Airport acquisition in Sweden

Castellum AB agreed to sign off on its commitment to an additional consideration of roughly 300 million Swedish kronor as an advance lump-sum payment to Serneke Group AB for the Säve Airport properties in Gothenburg, Sweden.

The signing off gives Castellum full command to develop the nearly 3 million-square-meter area into a Nordics logistics hub.

The initial acquisition agreement for all of Serneke's real estate assets in and around the airport, for at least 1.1 billion kronor, was signed in December 2018.

The Swedish company paid 750 million kronor at the time of the acquisition and reserved about 300 million kronor as part of a larger additional consideration that could amount to 1.3 billion kronor in total.

The agreement includes a time limit of 2030 for the company to carry out zoning developments and to acquire building permits.

As of Dec. 23, US$1 was equivalent to 9.42 Swedish kronor.