The sale of Hemnet to General Atlantic and Merro

Fastighetsbyrån sells its shares in Hemnet

FRI, DEC 16, 2016 14:30 CET

The global growth equity firm General Atlantic, in partnership with a consortium led by the investors Pierre Siri and Henrik Persson, has signed an agreement with all owners to acquire the housing site Hemnet for approximately SEK two billion.

Fastighetsbyrån currently owns 34 per cent of the shares in Hemnet and will through an option acquire an additional 8 per cent of the shares. Fastighetsbyrån will sell all of these shares.

For the owner of Fastighetsbyrån, Swedbank, the sale results in a capital gain of about SEK 650 million that will be accrued to the bank’s results in the first quarter 2017. The acquisition is not conditional on any regulatory approvals and is expected to be completed in January 2017.

”We have received a very good offer on Hemnet from buyers with ability to develop Hemnet in a way that benefits both customers and real estate brokers”, says Anders Karlsson, CFO, Swedbank.

Link to press release:

Swedbank (English)