Latest news with #SBB
Yahoo
27-05-2025
- Business
- Yahoo
Aker ASA: Aker Property Group to Exchange Class B Shares for Class A Shares in Samhällsbyggnadsbolaget i Norden AB
FORNEBU, Norway, May 27, 2025 /PRNewswire/ -- Aker Property Group, a wholly owned subsidiary of Aker ASA, today announces that its wholly owned subsidiary, APG Invest AS ("APG"), has entered into an agreement to exchange 125,038,756 class B shares for 100,923,623 class A shares in Samhällsbyggnadsbolaget i Norden AB (STO: SBB) ("SBB"). The transaction follows the previously announced agreement on May 13, 2025, under which APG acquired 164,561,931 class B-shares in SBB, representing approximately 9.08% of SBB's share capital and 4.44% of the voting rights. Upon completion of the current transaction, APG will hold 100,923,623 class A shares and 39,523,175 class B shares in SBB, corresponding to a total ownership of approximately 7.75% of the share capital and 28.32% of the voting rights. "This share exchange reflects a step towards taking a more active ownership role in SBB, in line with Aker's strategy and proven method of work. With increased voting rights and eventual board representation, we look forward to working closely with the company's leadership and board to help revitalize the company and strengthen its balance sheet," said Øyvind Eriksen, President and CEO at Aker ASA. The transaction is expected to be completed around the end of Q2 2025, subject to the receipt of Foreign Direct Investment (FDI) clearances. BAHR and Mannheimer Swartling are acting as legal advisors for Aker Property Group. About SBB Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region's leading property company in social infrastructure. The Company's strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company's series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm. Further information about SBB is available at Media contact: Atle Kigen, Head of Media Relations and Public Affairs, Aker ASATel: +47 90 78 48 78Email: Investor contacts: Svein Oskar Stoknes, Chief Financial Officer, Aker ASATel: +47 94 80 46 43Email: This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Laila Hop, Paralegal, Aker ASA, on May 27, 2025, 11:10 CEST. This information was brought to you by Cision View original content:
Yahoo
20-05-2025
- Yahoo
‘Devastating': Grand Strand businesses, residents react to deadly motorcycle crashes over Spring Bike Week
MYRTLE BEACH, S.C. (WBTW) — After thousands of bikers from across the country made their way along the Grand Strand for the 86th Annual Spring Bike Week, four people died in three separate motorcycle wrecks during the weekend. 51-year-old Michael Davis died early Friday in a wreck near Todd Boulevard in Conway, 40-year-old Jessica Woodall died early Sunday in a wreck in North Myrtle Beach, and two people died early Monday morning in a wreck in Carolina Forest. Right now, law enforcement has not officially linked these deaths to the bike rally. SBB Event Director Bill Barber said it's heartbreaking to hear four individuals lost their lives while riding motorcycles. He said, although he may not have known them personally, in the biking community, everyone is family, and losing anyone is devastating news. 'We don't want to lose any of our brothers and sisters. We take our friendships a little more serious, I think, than the average people do, because we put miles in together and we do the same thing,' he said. 'And it seems to be — I don't think the average citizen would really understand how deep our friendships become in the motorcycle world.' He said at SBB, there is a memorial wall for those who have died from motorcycle fatalities, but also cancer, and old age, who had connections to the popular bike week bar. He said some people have brought others' ashes during bike week to have their presence at the bar and be 'back with family.' 'These people are our family, even though they may seem like customers to the average person. In the biker community, we are a pretty tight group of folks, and we're all brothers and sisters,' Barber said. 'The way we look at it. So it's, it's, it's devastating to us.' Others living in the Surfside Beach community, who have attended bike weeks in the past, claims the crowds have gotten larger over the years as the city grows. Ray Raab said he is not shocked that four people died over the weekend due to roads being more crowded and people not being as safe. Being a musician in years prior and playing at bike week events, he said he got to know bikers who passed through. He said everyone was always friendly, and it's a shame four individuals lost their lives this weekend. 'A friend of mine, we went down to Pawleys Island Tavern last night. I've been a professional musician all my life. I don't play now due to injuries, but I went down to see some friends and we both commented, 'We wonder how many of these people are going to make it back alive,'' Raab said. 'There were a lot of people going across the road, and it was a madhouse. I hope and pray that people who are out partying and stuff, do it safely, have a designated driver or something just to make sure they get home safely so they can come back again.' Brett Briggs rides his motorcycle as his main source of transportation. Although he doesn't identify as a biker in the community, he's still saddened to know four people lost their lives on their bikes. Briggs said he's been in a few accidents himself, and his helmet saved his life. His mother, who works in an emergency room, has seen several bodies mangled from motorcycle accidents, adding that bike safety is extremely important and should be taken very seriously. 'It's unfortunate. It's indicative of a lack of awareness and the cars and stuff. You know, I've been almost [run] off the road a few times myself. Even been in a few accidents [where] people don't see me, I hit them and they, like, think they can just turn in front of me,' he said. 'Or other things like that. There's not a lot of awareness. People need to be aware of all the vehicles on the road.' News13 reached out to the South Carolina Highway Patrol, where we are still waiting for the number of motorcycle deaths from previous bike weeks. News13 also reached out to the Myrtle Beach Chamber of Commerce to see if they could provide a head count of bike week attendees, but it's unable to provide that data. * * * Gabby Jonas joined the News13 team as a multimedia journalist in April 2024. She is from Columbus, Ohio, and graduated from Kent State University in May 2023. Follow Gabby on X, formerly Twitter, Facebook or Instagram, and read more of her work here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Star
14-05-2025
- Business
- The Star
SBB surge on Aker deal to benefit creditors
The deal marks the next major step forward for the once-embattled real estate company as it seeks new investors amid looming debt maturities. — Bloomberg STOCKHOLM: Shares and bonds in Sweden's SBB rally after Norwegian industrial investment group Aker ASA became the commercial landlord's new main shareholder. The deal, in which Aker's property unit took a 9.08% stake in SBB, marks the next major step forward for the once-embattled real estate company as it seeks new investors amid looming debt maturities. Samhallsbyggnadsbolaget i Norden AB, as the group is formally known, will also benefit from improved cash flow and debt metrics, according to chief executive officer Leiv Synnes. 'There's the added benefit of how SBB is perceived,' Synnes said on Tuesday. 'The company is starting to do things that creditors will like.' In addition, Aker agreed to acquire a stake in Public Property Invest AS, a Norwegian property group where SBB is the majority shareholder. 'Aker is prepared and willing to allocate more capital when needed, provided the business case meets our investment criteria,' Aker chief executive officer Oyvind Eriksen said. 'That mindset applies to our stakes in PPI and SBB.' SBB shares jumped as much as 26%, the most since September 2023, in Stockholm. The company's hybrid notes were marked 4.6 US cents on the euro, higher at a bid price of 68.09 cents, according to data compiled by Bloomberg. Aker's Eriksen added that he expected the investment in SBB to 'exceed over time' the 10% annual return target to the investment group's shareholders. Under the terms of the deal, SBB will issue 164 million class-B shares to Aker Property Group at a value of 4.25 kronor apiece. Aker will become SBB's largest shareholder and the equity issuance will lower SBB's loan-to-value ratio to less than 60%, according to Synnes. 'Aker Property Group is a strong owner that can help us in this transaction and in the future,' Synnes said. There's also the increased possibility of a dividend at PPI, which in turn should help SBB's cash flow as it will now hold more shares in the Norwegian group, he added. SBB also published an earnings report for the first quarter on Tuesday, where it announced the formation of two wholly-owned subsidiaries for the community property portfolio, SBB Samhalle and SBB Utveckling. Synnes said the motivation for doing this was to appoint specialists within the company to handle specific property types. Those working in the Utveckling unit will be focused on development projects, while Samhalle will be centred on the management of cash flow generative properties. 'The division makes it easier to attract capital to Samhalle,' Synnes said. 'That will be creditors in the first instance or even equity partners in the future.' — Bloomberg
Time of India
14-05-2025
- Business
- Time of India
Sweden's SBB reports $194 million profit before tax in Q1 2025
GDANSK: Swedish landlord SBB swung to a pre-tax profit in the first quarter of 2025 after eleven consecutive quarterly losses, it said on Tuesday, while separately announcing a deal that would make Norway 's Aker Property Group its largest shareholder. The debt-laden real estate group, which owns properties such as hospitals and care homes in Sweden , reported a January-March profit before tax of 1.9 billion Swedish crowns ($194 million), compared with a revised loss of 1.18 billion a year earlier. SBB was one of many European real estate firms that had to cut debt and restructure their finances amid a period of high interest rates and economic weakness, particularly in Sweden, although market conditions started to stabilise last year. Its net operating income fell to 510 million crowns in the first quarter from 736 million a year earlier. However, lower costs helped the metric rise 4.3% in comparable portfolios. "SBB is now allocating resources and focusing on its occupancy ratio and rental level to ensure that there is every opportunity for income to improve going forward," CEO Leiv Synnes said in a statement. In a separate press release, SBB said it had secured the right to buy another 39.8 million shares in its associate company Public Property Invest (PPI) from Aker Property Group (APG), part of Norway's Aker. That would make APG its largest shareholder by share capital, with a 9.08% stake. The deal follows PPI's issuance of new shares in exchange for an industrial infrastructure portfolio worth 2.33 billion Norwegian crowns ($223.73 million) from TRG Real Estate, which is controlled by Aker Chair Kjell Inge Rokke. TRG has agreed to transfer a portion of the PPI shares to SBB in exchange for 164.6 million new B-shares in the Swedish group. It would then transfer both the right to receive its remaining PPI shares and the SBB shares to APG, Aker said in a statement. SBB remains the largest shareholder in PPI, while APG would become its second biggest shareholder. "Rokke obviously sees great potential in this, as the non-cash issues are made in companies ... that are valued at net asset value discounts," Carlsquare analyst Bertil Nilsson said. Shares in SBB rose 20% in early trading in Stockholm. They have lost about 90% of their value since peaking in 2021. PPI's shares gained 5.9% in Oslo.
Bloomberg
13-05-2025
- Business
- Bloomberg
SBB CEO Sees Aker Deal Being Welcomed by Landlord's Creditors
By Landlord SBB and the property unit of Norway's Aker ASA have struck a deal that will bring benefits to the Swedish property group in the form of a major new shareholder and a lower leverage ratio. That's the view of SBB Chief Executive Officer Leiv Synnes who spoke to Bloomberg shortly after the companies separately announced that Aker Property Group had agreed to acquire stakes in both SBB and Public Property Invest AS — the Norwegian property group where SBB is the majority shareholder.
