FASTATOR GROWS THROUGH ACQUISITION OF COMPANY IN STUDENT AND TEMPORARY HOUSING IN SOUTH-WEST SWEDEN
Fastator today acquired 50% of the shares in a portfolio comprising 725 student apartments encompassing a total area of 24,654 square meters in the Swedish regions of Blekinge, Småland, Skåne and Västra Götaland.
With this acquisition, Fastator is now entering another important growth area in the property sector and is laying the foundation for continued expansion in temporary housing. It is a strategically important acquisition that will strengthen Fastator’s portfolio of holdings and creates a position in a future area with considerable potential.
CEO of Fastator Daniel Hummel commented on the transaction:
“Temporary housing is a very interesting niche in the Swedish housing market. We can say that supply levels today far from satisfy current demand or the growth that is predicted in the future. There is high demand for all types of temporary housing, perhaps mostly for student accommodation and housing for new arrivals. This portfolio provides a solid platform for forming a company that offers temporary housing throughout Sweden and in all sectors.”
The purchase consideration for 100% of the company amounts to approximately MSEK 108. The purchase of all shares is taking place via an associated company that is 50% owned by Fastator and 50% by a UK partner.
For more information, please contact:
Daniel Hummel, CEO
+46 (0)70 661 24 29
Erika Kveldstad, CFO
+46 (0)70 339 99 99
This is information of the type that Fastator is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the contact persons detailed above on 15 July 2016 at 2:10 p.m.
Aktiebolaget Fastator (publ) is an investment company specialised in the property sector. Fastator’s business concept is to invest in entrepreneurial, property-related companies and to contribute to the achievement of unrealised potential through active, long-term ownership. Fastator’s share has been traded on Nasdaq First North Stockholm since 24 September 2015. The company’s Certified Adviser is Erik Penser Bank AB (publ) , tel. +46 (0)8 463 80 00.