Nyfosa is taking the next step in Kielo’s development, which following the acquisition will be a wholly owned subsidiary of Nyfosa. The purchase price amounts to MEUR 12.6, corresponding to approximately MSEK 144. As part of the acquisition, the option liability that Nyfosa has towards Brunswick, with a recorded value of MSEK 38 as of September 30, 2024, will be eliminated.

Closing is scheduled to take place during the first quarter of 2025. At the same time, an organization of 14 employees will transfer to Kielo. By terminating the existing management agreement with Brunswick, which expires in 2028, Nyfosa estimates to reduce its annual expenses in Finland by MEUR 1.8, corresponding to approximately MSEK 20.

Nyfosa established its operations in Finland together with Brunswick in April 2021 with the ambition to build a SEK 7 billion property portfolio within five years, a target that has already been reached. As of September 30, 2024, the property value amounted to SEK 8.1 billion, consisting of a diversified and high-yielding property portfolio with offices, retail, and light industrial premises with an emphasis on university and regional cities in the southern part of the country.

”We look forward to further developing Kielo together with the team that has formed the company. Through the acquisition, we create greater flexibility for Nyfosa in the Finnish market”, Carl-Johan Hugner, CEO of Nyfosa, comments and continues:

”I would also like to take the opportunity to thank Brunswick, who has been a vital partner in building the company in such a short period of time, a factor that has been crucial to Kielo’s success.”