Swedbank : Fastighetsbyrån sells its shares in Hemnet

Press release

16 December, 2016

Fastighetsbyrån sells its shares in Hemnet

The global growth equity firm General Atlantic, in partnership with a consortium led by the investors Pierre Siri and Henrik Persson, has signed an agreement with all owners to acquire the housing site Hemnet for approximately SEK two billion.

Fastighetsbyrån currently owns 34 per cent of the shares in Hemnet and will through an option acquire an additional 8 per cent of the shares. Fastighetsbyrån will sell all of these shares.

For the owner of Fastighetsbyrån, Swedbank, the sale results in a capital gain of about SEK 650 million that will be accrued to the bank's results in the first quarter 2017.

The acquisition is not conditional on any regulatory approvals and is expected to be completed in January 2017.

"We have received a very good offer on Hemnet from buyers with ability to develop Hemnet in a way that benefits both customers and real estate brokers", says Anders Karlsson, CFO, Swedbank.

For more information

Claes Warrén, Press Contact, Swedbank, phone: [phone]

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development "Beyond Financial Growth". As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 640 000 corporate customers and organisations with 256 branches in Sweden and 143 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 30 September 2016 the group had total assets of SEK 2 394 billion.

Read more at www.swedbank.com