SBB sells eight properties for $37 million, Real Estate News, ET RealEstate

June 30, 2023

COPENHAGEN: SBB has sold eight properties to municipality-owned Lejonfastigheter for 400 million Swedish crowns ($36.78 million), the landlord said in a statement on Friday.

SBB intends to use the net proceeds from the transaction to strengthen its liquidity and financial position, it said.

“Our relations with Nordic municipalities are of the utmost importance and we have said that we are open to dialogues with municipalities that want to acquire properties and where the municipality can act quickly,” SBB’s CEO Leiv Synnes said.

“We have several dialogues with Swedish municipalities about further deals,” he added.

The Stockholm-based company has been fighting for survival as its shares plunged amid concerns over its financial position and refinancing debts of billions of Swedish crowns in the coming years.

  • Published On Jun 30, 2023 at 06:30 PM IST

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