13 March 2015

Gernandt & Danielsson advises Swedbank in real estate brokerage deal

Swedbank Franchise AB has on 12 March 2015 agreed with DNB Bank ASA that Swedbank Franchise's previous acquisition of Svensk Fastighetsförmedling AB, which at the request of the Swedish Competition Authority was prohibited by Stockholm District Court on 17 December 2014, shall be reversed.

Most of the franchisees of Svensk Fastighetsförmedling have on the same day acquired Svensk Fastighetsförmedling and entered into a cooperation agreement with Swedbank AB. Swedbank's subsidiary Fastighetsbyrån AB has in connection therewith acquired 9 per cent of the shares in Hemnet Sverige AB and will thereafter own 34 per cent of the shares in Hemnet. In addition, Fastighetsbyrån has entered into an option agreement with the right to acquire additional shares in Hemnet.
Gernandt & Danielsson advised Swedbank (and relevant subsidiaries) in connection with the transactions now completed with a team consisting of Partners Johan Josjö and Candra Torebring, Counsel Rolf Larsson, Senior Associates Erik Åslund and Sofie Viktorsson and Associates Philip Rämsell and Helén Landenberg.