Brinova acquires shares in Fabege

Brinova Fastigheter AB has acquired 2,250,000 shares in Fabege AB from Investment AB Öresund. Following the acquisition, Brinova’s holding in Fabege amounts to 12,421,915 shares, or 12.3 per cent of the capital and votes.

The deal has prompted Fabege’s Nomination Committee to adjust its proposal for Board composition (see separate press release). In its adjusted proposal the Committee proposes that Erik Paulsson be elected as Chairman and that Mats Qviberg become a Director. Stefan Dahlbo has declined re-election.

Brinova’s largest owner, Erik Paulsson, comments: “We have been involved in Fabege for a long time and know the company extremely well. We see a good potential to continue to add value in Fabege thanks to the company’s concentrated and well positioned property holdings combined with a strong project and property improvement portfolio”.

Mats Qviberg, CEO of Investment AB Öresund, comments: “Öresund will retain a significant stake in Fabege even after the deal. Öresund’s investments in the property sector have been highly successful, not least thanks to our holdings in Fabege. The Qviberg family intends to increase its ownership in the company and will remain a big owner for many years to come. Because of the change in the ownership structure, it is also natural that Erik should be put forward for the post of Chairman. Erik’s drive, commitment and knowledge have been and will continue to be a key success factor for Fabege”.

9 Mar 2007 8:45 AM

For more information

Download press release (pdf)