Acta clients sell real estates with billion kroner profits
(Thomson Reuters ONE) -
The companies Boligutleie Holding I AS and Hyresfastigheter Holding I AB are
selling all of its real estate properties, and the companies Boligutleie Holding
III AS and Hyresfastigheter Holding III AB are through subsidiaries selling
approximately 20 per cent of its real estate properties. The companies, which
are owned by Acta's clients, are selling approximately 11,100 apartments in
Sweden. The selling price is slightly above 7 billion Swedish kroner. The buyer,
Willhem AB, is a recently established company, which strategy is to invest in
Swedish rentals. Willhem AB is owned by Första AP-fonden (AP1), one of Sweden's
largest pension funds.
Despite the financial crisis, both Boligutleie Holding I and Hyresfastigheter
Holding I, which were launched in 2003, have yielded very good returns in the
investment period. In total, the clients have realized a profit of approximately
1.3 billion Swedish kroner.
- Compared with similar investments in real estates in the same period, we are
proud to present these returns to our clients. The transaction proves that
secondary markets in real estate are recovering, says CEO in the Acta Group Geir
Inge Solberg. Acta Markets, has together with others, been advisor in the
transaction. Acta is pleased to have participated as advisor in this
transaction, and that our efforts to become a complete supplier of financial
services have paid off, says Solberg.
The sale, which is subject to approval in extraordinary general meetings in the
respective real estate companies before year-end, will in principle imply a
reduction in assets under management for Acta with slightly less than 6 billion
Norwegian kroner. However, the Group expects many of its satisfied clients to
reinvest part of the equity in other investment products offered by the Acta
Group. After this transaction Acta's clients will have more than 64 billion
Norwegian kroner invested through the Acta Group, of which 39 billion Norwegian
kroner are in real estate portfolios.
For further comments please contact:
Geir Inge Solberg, CEO, phone +47 908 78 043
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Acta Holding ASA via Thomson Reuters ONE
[HUG#1469649]
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2010 - 08:46 Uhr
Sprache: Deutsch
News-ID 49463
Anzahl Zeichen: 2986
contact information:
Town:
Stavanger
Kategorie:
Business News
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