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Following Heimstaden's sale of Heimstaden ehf. to Fredensborg AS in October 2023, Heimstaden has today been notified by Fredensborg AS about its entry into a binding purchase agreement with SRE III slhf. ("Stefnir").
Upon transaction closure, Heimstaden will receive the net deferred purchase price of approx. SEK 750 million in cash inflow*, based on today's SEK/ISK FX rate.
Closing is contingent on Icelandic Competition Authority approval, expected by end March 2024.
Deputy CEO Christian Fladeland comments:
"We are pleased to receive notification of the binding purchase agreement with Stefnir. Proceeds from the sale of the Icelandic portfolio will be used for liability management and continued deleveraging."
*Of the net deferred purchase price, SEK 123 million is already received as a dividend from Heimstaden ehf.