JM Selling its Stake in Småa AB

STOCKHOLM, Feb 08, 2017 /PRNewswire/ --

JM has signed an agreement with Alm Equity AB for the sale of all of JM's shares in Småa AB; the shares represent 35.7% of the shares and votes in the company. The purchase price for the shares is SEK 310m. For the transaction to be completed, a significant proportion of the remaining shareholders of Småa AB is required to sell its participations.

Occupancy and payment are expected to be completed during the first six months of 2017. Provided that the transaction is completed, it will result in earnings of SEK 275m, which will be reported as financial income. Over the past two years, JM has reported average financial income of SEK 9m as a result of its ownership in Småa.  

"It is gratifying to have signed an agreement with Alm Equity, which has the ability to become a positive and long-term owner of Småa. JM has owned shares in the company since 1994, and has together with the other owners successfully developed the company into what is today an independent community developer of high-quality homes," says Johan Skoglund, President and CEO of JM.  

For additional information, please contact:

Pär Vennerström,
Business Unit Manager JM Residential Stockholm,
Tel:  +46 (0)8-782-89-12

Sepideh Imani,
Head of Communication and Analysis,
Tel: +46 (0)8-782-14-29

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http://news.cision.com/jm/r/jm-selling-its-stake-in-smaa-ab,c2181348

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