Upon transaction closure, Heimstaden will receive the net deferred purchase price of approx. SEK 750 million in cash inflow*, based on today’s SEK/ISK FX rate.
Closing is contingent on Icelandic Competition Authority approval, expected by end March 2024.
Deputy CEO Christian Fladeland comments:
"We are pleased to receive notification of the binding purchase agreement with Stefnir. Proceeds from the sale of the Icelandic portfolio will be used for liability management and continued deleveraging."
*Of the net deferred purchase price, SEK 123 million is already received as a dividend from Heimstaden ehf.