Letter of intent regarding new partner in Klövern - intends to invest approximately SEK 4,350 million

Corem Property Group, ALM Equity and Broskeppet Bostad, which together own the housing company Klövern, have today signed a letter of intent with an international investor that the latter intends to acquire 25 percent of the shares in Klövern to a value of approximately SEK 1,350 million.

In addition, the international investor intends to invest up to SEK 3,000 million in new issues in Klövern to fund the construction of planned projects, and in that case will come to own just over 51 percent of the shares in Klövern.

The agreement enables the completion of Klövern's project portfolio of approximately 24,000 homes and thus the ambition to become one of Sweden's largest housing companies.

The agreement is planned to be concluded in the second quarter of 2023.

About Klövern
Klövern is a commercial housing company that develops sustainable and surface-efficient housing for own management. The portfolio consists of building rights for 24,000 homes, mainly in the Stockholm area, 2 management properties with rental properties, and 28 project properties with commercial premises. Klövern is owned by Corem Property Group (49 percent), ALM Equity (47 percent) and Broskeppet Bostad (4 percent).

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Eva Landén, CEO, +46 10 482 76 50, [email protected]

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This is information that Corem Property Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person above on 3 April 2023 at 15:30 CEST.

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.