Fastator to invest additional MSEK 41 in newly acquired property company in fast growing market
On 3 October Fastator communicated that the company has signed an agreement to acquire 50 % of the shares in property company Portvakten Industrifastigheter AB, which owns six major industrial premises in the area around Ängelholm. The acquisition was partly financed by a preference share amounting to MSEK 34. Fastator will now inject additional capital into the company by subscribing for a new preference share amounting to MSEK 41, at an annual dividend of 10.5% – and thereby doubling the invested capital.
The capital will be used to strengthen Portvakten’s acquisition capability and to carry out more property investments in the expansive Öresund region. As a result of the transaction, Fastator has contributed a total of MSEK 75 to the company through preference share capital. The supply of capital follows Fastator’s investment model where the shareholdings contribute the required resources so as to optimally leverage the growth opportunities in the local market.
CEO of Fastator Daniel Hummel made the following comments on the transaction:
”When Fastator made the initial investment in Portvakten, it was with an ambition to inject more capital in the short term to increase the growth rate within the company. The Öresund region is one of Sweden’s most attractive areas in terms of investment and we continue to see major potential in the local property market. The doubling of our investment in Portvakten is in line with Fastator’s strategy to be an active owner that continuously drives development in its shareholdings – by supplying capital as well as giving advice on business development issues.”
For more information, please contact:
Daniel Hummel, CEO
+46 70 661 24 29
Erika Kveldstad, CFO
+46 70 339 99 99
The information in this press release is of the type that Fastator is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons above, on 2 November at 8:30 a.m.