A consortium of Swedish real estate investors led by Hemfosa has acquired the property portfolio of cash-strapped Swedish carmaker Saab Automobile for SEK 600 million (EUR 65.6 mln).
A consortium of Swedish real estate investors led by Hemfosa has acquired the property portfolio of cash-strapped Swedish carmaker Saab Automobile for SEK 600 million (EUR 65.6 mln).
Saab, which is owned by Dutch car maker Spyker, is taking a 15-year lease on the assets, according to Swedish adviser Catella. The deal has been approved by the Swedish government.
Saab first announced in April that it planned to sell its real estate to help address an acute liquidity crunch. Three weeks ago it appointed Catella to identify and bring together investors and capital, and to negotiate sales and rental agreements, pertaining to the SAAB property. The transaction was finalised today.
´In a very short time and over a very intensive period of negotiations, we have capitalised on our longstanding and extensive M&A experience of the property transaction industry in order to identify and bring together potential investors,´ according to Lennart Schuss, Working Chairman of the Board of Catella's Nordic corporate finance companies.
Catella is market leader in Sweden in property advisory services and related services in the debt and equity capital markets. During the first quarter of 2011, Catella Corporate Finance implemented 22 property transactions in Sweden with a total value of slightly more than SEK 6.7 bn (EUR 0.73 bn).
