Sjaelso Gruppen to spend EUR 26m on share repurchase

Danish listed real estate firm Sjaelso Gruppen said on Thursday that it has repurchased 1.5 million of its shares for a total cost of DKK 143 (EUR 19 mln) since it began a share buyback programme in March this year. The company plans to have bought EUR 26 mln worth of shares by the end of the year.

Sjaelso Gruppen transferred 675,000 treasury shares last month as final payment to the former owners of the Danish company Ikast Byggeindustri which Sjaelso Gruppen acquired in 2006 to help it expand internationally. now operates in Denmark, Sweden, Norway, Finland and Poland. Last year Sjaelso Gruppen reported revenues of EUR 845 mln and an after-tax profit of EUR 147 mln.