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2022-07-01

Cash sale of SBK for SEK 140m completed, 20% above book value

Fastator announced on 10 May 2022 that it had entered into an agreement to sell its stake in SBK Svenska Bostadskompaniet AB. Today, the transaction has been completed and Fastator has received cash of SEK 140 million. Fastator's shareholding was unleveraged. The sale was 20% above book value as of 31 March 2022.

- There are different types of properties on the market, different types of quality. Through this sale, we are showing that the right assets still stand in value, again. Now we will concentrate on building the Business Park. The right properties at the right time, is our motto, comments Knut Pousette, CEO of Fastator.

- The market is shaky according to the headlines, but with healthy book values there are always deals to be made. I understand that analysts like to lump the whole property market together, it's easier that way. But there are asset classes that are better than others, in new times. That's where Fastator is now, and that's where we will grow. Moreover, we love to do real real estate deals, where the financial instruments don't rule, comments Joachim Kuylenstierna, business developer at Fastator.

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