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Klövern acquiring Tobin Properties shares

Swedish real estate company Klövern AB agreed to acquire 3,237,500 ordinary shares in its Tobin Properties AB subsidiary for 17 Swedish kronor per share.

The shares are being acquired through the company's Dagon Sverige AB subsidiary, which signed an agreement with Tobin Properties' departing CEO Erik Karlin and board member and head of transactions Johan Varland.

Following the acquisition, Klövern will own 69.8% of Tobin Properties' shares and 71.3% of its voting rights.

Dagon initially launched an offer for Tobin Properties in February.

As of Aug. 31, US$1 was equivalent to 9.16 Swedish kronor.