Wästbygg Gruppen AB (publ) divests project development portfolio to Klövern and signs construction contract with a total combined value of approximately 900 MSEK
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Fastigheter |
| Industri | Projektering |
Wästbygg Group has today, 3rd July, in accordance with the previously communicated letter of intent, entered into a binding agreement with Klövern regarding the divestment of a project development portfolio consisting of land allocations and properties comprising a total of 1400 residential units, at a total value of 130 MSEK. The portfolio includes development projects within the Residential business area, which have previously been managed by Wästbygg Group's subsidiary, Wästbygg AB. In addition, five construction contracts have been signed, with a total contract value of approximately 760 MSEK.
The divestment entails write-downs of approximately 110 MSEK, which will impact the results for the second quarter of 2025.
The construction agreements with Klövern pertain to certain projects included in the transfer agreement, which covers approximately 570 apartments. The total order value will be included in the company’s order intake for the third quarter of 2025. Following the summer, the majority of the construction projects, located in Malmö, Göteborg and Norrtälje, will commence and are expected to continue during the period 2026 to 2029.
“The divestment of our own residential development is a strategically important step. By doing so, we ensure that we no longer need to tie up capital in self-developed residential projects. This enables us to streamline our operations and focus on projects, where we continue to see strong opportunities for profitability.
The transaction also marks the beginning of a long-term collaboration with Klövern, one of Sweden's leading residential developers. We are very proud of this and look forward to being a development partner to Klövern in southern Sweden on a long-term basis”, says Patrik Mellgren, CEO Wästbygg Group.
“The acquisition marks the beginning of a long-term collaboration with Wästbygg Group, a highly regarded contractor who shares our vision of quality and sustainable residential development. With their strong local expertise and in-depth knowledge of the portfolio, we see great potential to realize our shared vision," says Rickard Langerfors, CEO Klövern.
The acquisition of the target companies is planned for January 2026.
Setterwalls Advokatbyrå has acted as legal advisor to Wästbygg Group in the transaction.
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For more information, please contact:
Patrik Mellgren, CEO Wästbygg Group
Tel +46 72 856 22 00, e-mail. patrik.mellgren@wbgr.se
Robin Sundin, COO
Tel: +46 72 529 30 04, e-mail: robin.sundin@wbgr.se
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About Wästbygg Group:
Wästbygg Group is a listed construction and development company, specialized in properties within logistics, industry, residential, commercial and community service. We are an experienced and long-term partner – built on trust.
The group comprises Logistic Contractor AB, Wästbygg AB and Rekab Entreprenad AB. The operations are conducted in the most expansive markets in Sweden and within Logistic Contractor also in the neighbouring Nordic countries. In 2024, the group had sales of SEK 4.3 billion and 500 employees.