6 April 2018

Gernandt & Danielsson advises in Byggmästare Anders J Ahlströms’ divestment of Mitt Alby to D. Carnegie & Co and its process for continued listing on Nasdaq First North and early redemption of bonds

Byggmästare Anders J Ahlström has entered into an agreement with a wholly-owned subsidiary of D. Carnegie & Co for the sale of Byggmästare Anders J Ahlströms’ wholly owned subsidiary Mitt Alby, including the group’s entire property portfolio. The purchase price is based on an underlying agreed property value of approximately SEK 1,673 million which corresponds to a purchase price for the shares in Mitt Alby on a cash and debt-free basis of approximately SEK 1,593 million. The preliminary purchase price, based on estimates in connection with signing of the share transfer agreement, amounts to approximately SEK 1,153 million, of which nearly SEK 125 million will be paid through B shares in D. Carnegie & Co.

The divestment is conditional upon, inter alia, approval by the general meeting of shareholders in Byggmästare Anders J Ahlström Holding AB (publ) and closing is expected to take place during the second quarter of 2018.

Because of the major change of Byggmästare Anders J Ahlströms’ business that the proposed divestment entails, Byggmästare Anders J Ahlström Holding AB (publ) has applied to Nasdaq Stockholm for approval of continued listing of the company's B shares on Nasdaq First North, also after the above described divestment.

In connection with the transaction, Byggmästare Anders J Ahlström Fastighets AB (publ) intends to make an early redemption of its outstanding bonds.

Gernandt & Danielsson has advised the company in relation to all of the above mentioned work streams with a team consisting of Partner Mikael Borg, Senior Associate Gabriel Zsiga and Associates Katarina Odelberg, Tova Thuresson and Kelly Josefsson Waller.