Castellum trading stopped – should buy Norrporten – Private Businesses

Shortly after DI published these data trading was halted Castellum at 10:52 on the Stockholm Stock Exchange.

DI writes that the deal is supposed to be published just after lunch on Wednesday. Castellum release the report for the first quarter at 13 o’clock.

Norrporten has suspended the process to list the company when the company when it was bought the same valuation as an IPO had been expected to provide, writes DI.

will finance the new issue

Castellum will partially finance the purchase of Norrporten through a nyemission.Det reports Dagens Industri on Wednesday.

the issue should be according to DI the tasks to be already in place, including guarantors.

Norrporten’s owner, Second and Sixth AP Fund, said to see it as an advantage to get paid directly for sales. In an IPO, as it also has been talking about, the owners had probably had to remain as an investor with the associated lock-up periods.

lower price tag than expected

Swedish Dagbladet reported on Wednesday that the owners Norrporten Second and Sixth AP Fund accelerates the sales transaction. The price tag of 13.4 billion will be significantly lower than the expected 15 billion, according to SvD’s tasks.

The idea was that the funds would hit financial markets minister Per Bolund later this week to discuss the sale process, but they are now spurred sales to get it before the meeting.

There have been suspicions of conflict of interest, as well as reports that pension funds should have favored Castellum in the process.

According to the Swedish newspaper Svenska Dagbladet information shall include Fabege, Wihlborgs Diös and shown interest in Norrporten without having been invited to the sales process.

Rumors that Castellum should buy Norrporten has flourished over the past month. In addition to Wednesday’s trading halt as the trade was stopped real estate shares also on the afternoon of the 7th March, when Reuters published information that the company is planning a bid for the North Gate with a property portfolio of around 25 billion.

Castellum, with a property portfolio at year end amounted to around 42 billion, confirmed during the morning of 8 March that it is evaluating a possible acquisition of Norrporten’s property portfolio with Carnegie as adviser.