OSLO, NORWAY: Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) has today acquired 13.975 million shares in JM AB at a price of SEK 326.30 per share from OBOS, corresponding to SEK 4.56bn.

The transaction corresponds to 20.08 percent of the shares and votes in JM, thus making it an associated company to SBB.

SBB’s profit from property management is expected (based on JM’s profit for the period April 2020-March 2021) to increase by approximately SEK 300 million on an annual basis as a result of the acquisition.

SBB is the Nordic region’s leading society builder and largest property developer with a building rights portfolio of 42,000 apartments with a majority of the building rights located in the Nordic region’s largest cities. The acquisition of the shares in JM adds exposure to another 37,300 apartments of which a majority is located in Stockholm and Uppsala.

“SBB’s focus on residentials and elderly care homes as well as new construction of residentials, as the society builder that we are, becomes even stronger through this deal. We are still only at the beginning of SBB’s value creation to its shareholders”, says Ilija Batljan, CEO and founder of SBB.

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations.

Annual sales total approximately SEK 15 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. www.jm.se/en

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, Large Cap. www.sbbnorden.se