Aker Property Group Secures Stake in Public Property Invest and SBB
Deal News | May 13, 2025 | PR Newswire Cision Aker ASA
Aker Property Group, a subsidiary of Aker ASA, has announced new agreements to acquire significant stakes in Public Property Invest ASA and Samhällsbyggnadsbolaget i Norden AB, marking a strategic expansion in its real estate portfolio. The acquisition includes structured transactions involving TRG Real Estate AS, an entity indirectly controlled by Kjell Inge Røkke, where an industrial property portfolio is exchanged for shares. This makes Aker the second largest shareholder in Public Property Invest, holding 24.58% of shares and votes, and also grants Aker a notable stake in SBB. These strategic moves align with Aker's objective to focus its portfolio on fewer, lucrative investments. Public Property Invest will acquire properties leased to Aker Solutions and HMH, enhancing its infrastructure segment. This move supports Aker’s strategy of increasing its appeal through stable, cash-generative investments in low-risk profiles. The transaction also allows for potential growth and restructuring in SBB, set to benefit from Aker's long-term investment and advisory expertise.
Sectors
- Real Estate
- Investment
Geography
- Norway – Relevant as Aker Property Group and Public Property Invest are both Norwegian entities engaging in this transaction.
- Sweden – Sweden is relevant due to the involvement of Samhällsbyggnadsbolaget i Norden AB, a Swedish real estate company.
Industry
- Real Estate – The real estate industry is relevant due to Aker Property Group acquiring stakes in companies involved in real estate properties and investments.
- Investment – Investment classification is pertinent as the transactions involve strategic investment decisions by Aker Property Group and its investment in equity stakes.
Financials
- NOK 2.325 billion – Agreed equity value of the industrial property portfolio sold by TRG to PPI.
- NOK 18.69 – Price per share for new ordinary shares issued in PPI.
- NOK 1.525 billion – Agreed net property value of the industrial property portfolio.
- NOK 800 million – Agreed net cash level for the portfolio companies.
- 164,561,931 class B-shares – Number of class B-shares in SBB that TRG will receive, equal to 9.08% of the share capital.
- 124,398,074 new ordinary shares in PPI – Total new shares in PPI issued as part of the transaction.
- NOK 933 million – Minimum cash payment alternative if Tranche 3 issuance is not approved.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aker Property Group | Acquiring Company | Companies | Aker Property Group is acquiring stakes in Public Property Invest ASA and SBB, increasing its real estate holdings. |
| Aker ASA | Parent Company | Companies | Aker ASA is the parent company of Aker Property Group and is facilitating the acquisition. |
| Public Property Invest ASA (PPI) | Target Company | Companies | PPI is a real estate company focusing on social infrastructure properties in Norway and is one of the subjects of the acquisition. |
| Samhällsbyggnadsbolaget i Norden AB (SBB) | Target Company | Companies | SBB is a leading Nordic social infrastructure property company also involved in the acquisition deal. |
| TRG Real Estate AS | Selling Company | Companies | TRG, indirectly controlled by Kjell Inge Røkke, is selling an industrial property portfolio to PPI in the transaction. |
| Aker Solutions | Lessee | Companies | Aker Solutions leases properties within the industrial property portfolio being acquired. |
| HMH | Lessee | Companies | HMH is another lessee of the properties involved in the transaction. |
| Øyvind Eriksen | CEO, Aker ASA | People | Øyvind Eriksen is the CEO of Aker ASA and has commented on the strategic fit of the acquisition. |
| André Gaden | CEO, PPI | People | André Gaden is the CEO of PPI, welcoming Aker as a strategic investor. |
| Jens Jalland | Nominee to the Board | People | Jens Jalland is the CEO of Aker Property Group, nominated to the PPI Board of Directors. |
| Lennart Sten | Chairman, SBB | People | Lennart Sten is the Chairman of SBB, commenting positively on Aker’s involvement. |
| Arctic Securities AS | Financial Advisor | Companies | Arctic Securities AS acted as a financial advisor to the parties involved. |
| DNB Carnegie | Financial Advisor | Companies | Provided financial advisory services to Aker ASA. |
| BAHR | Legal Advisor to Aker | Companies | BAHR is providing legal advice to Aker for this transaction. |
| Mannheimer Swartling | Legal Advisor to Aker | Companies | Mannheimer Swartling is acting as legal advisor for Aker. |
| Thommessen | Legal Advisor to PPI | Companies | Thommessen is providing legal counsel to PPI. |
| Roschier | Legal Advisor to PPI | Companies | Roschier is acting as legal advisor for Public Property Invest. |