Extraordinary general meeting in K-Fast Holding AB (publ) ("K-Fastigheter") took place on Thursday, 6 March 2025. All resolutions made by the general meeting are in accordance with the proposals presented in the notice to the general meeting.
Divestment of investment portfolio
Brinova Fastigheter AB (publ) ("Brinova") and K-Fastigheter entered into an agreement on 11 December 2024, through which Brinova acquires all shares in K-Fast Kullavägen AB, a wholly-owned subsidiary of K-Fastigheter, thereby acquiring K-Fastigheter's property-owning companies in Skåne, Småland, and Denmark, with payment through newly issued shares in Brinova (the "Transaction"). The total property value of the divested portfolio amounts to approximately SEK 10,760 million, which corresponds to the market value as of 30 September 2024.
The purchase price is paid with newly issued shares in Brinova at a price of SEK 32.46 per share, which corresponds to Brinova's net asset value per share as of 30 September 2024. 19.6 per cent of the shares will be series A, and 80.4 per cent will be series B, which corresponds to the current distribution of series A and B shares in Brinova. After the completion of the Transaction, K-Fastigheter will own a maximum of 137,384,632 shares in Brinova, of which a maximum of 26,994,595 will be series A and a maximum of 110,390,037 will be series B, corresponding to a maximum of approximately 58.4 per cent of the votes and capital. The exact number of shares that K-Fastigheter will receive depends on the conditions of the divested portfolio on the closing date.
The general meeting resolved, in accordance with the board's proposal, to approve the Transaction.
For more information, please contact:
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
