K-Fast Holding AB ("K-Fastigheter") and Brinova Fastigheter AB (publ) ("Brinova") announced on 11 December 2024, that they had entered into an agreement whereby Brinova acquires all shares in K-Fast Kullavägen AB, a wholly-owned subsidiary of K-Fastigheter, thereby acquiring K-Fastigheter's entire portfolio of investment properties in Region Syd (the "Transaction").

All conditions for the Transaction have been fulfilled, and the Transaction has been completed today. The purchase price in the Transaction has been paid through a resolution from the board of Brinova, as authorised from the extraordinary general meeting on 7 March 2025, to issue 26,043,831 shares of series A and 106,502,041 shares of series B to K-Fastigheter, as well as by issuing a promissory note of approximately SEK 63 million for ongoing projects that K-Fastigheter is responsible for completing. The new shares are issued at a total amount of approximately SEK 4,302,439,005 based on a subscription price of SEK 32.46 per share, which corresponds to Brinova's net asset value per share as of 30 September 2024. After the completion of the Transaction, K-Fastigheter's total holding in Brinova amounts to approximately 57,6 per cent of the shares and votes.

"Through the transaction a strong player in the housing sector in an expansive region is created which provides good opportunities for development. I look forward to continuing to develop K-Fastigheter, where even greater focus will now be on our Construction operations. This applies both to the production of our concept houses internally as well as to external customers, and our high quality complete frame work solutions," says Jacob Karlsson, CEO of K-Fastigheter.

For more information, please contact:
Jacob Karlsson, CEO,
e-mail: jacob.karlsson@k-fastigheter.se, telephone: +46 (0)10-167 60 71

Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: johan.hammarqvist@k-fastigheter.se, telephone: +46 (0)10-167 60 99
 

K-Fastigheter is much more than a property company. Through an integrated process, we build our business in the two business segments Construction and Property Management. In business segment Construction the objective is to deliver completed housing units based on the Group's concept houses, developed in-house, as well as high-quality frame solutions. Our prefab operations is organized in the subsidiary K-Prefab. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept houses for housing, developed in-house. Business segment Property Management manages the Groups property portfolio with focus on housing. K-Fastigheter offers close to 5,000 homes from Copenhagen in the south to Gävle in the north and is continuously assessing new markets. K-Fastigheter strive to create attractive homes with a high comfort factor. The Group's property portfolio has a book value SEK 15.6 billion. Annual rental value in invest properties under management amounts to close to SEK 680 million. Since November 2019, the company's Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at k-fastigheter.com