Billionaire Ivar Tollefsen is considering getting rid of shares in Heimstaden Bostad.
BIG HOMEOWNER: Ivar Tollefsen has built a housing empire. Photo: Tore Øyvind MoenPublished:
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In an interview with Bloomberg says Tollefsen that the buyers will most likely be institutions with a long-term strategy of investing in European housing.
It is unknown exactly how much Tollefsen will sell for in that case, but it is relevant to sell parts of the share he owns in Heimstaden Bostad.
High inflation, rising interest rates and the crisis in the Swedish property sector are the reasons why Tollefsen is now considering a sale.
A sale could enable Tollefsen to get rid of debt.
Tollefsen is the majority owner of Heimstaden Bostad, which has over 160,000 homes in nine European countries.
The eventual sale will take place through the investment company Heimstaden, which Tollefsen owns through another company called Fredensborg.
Heimstaden owns 38 percent of Heimstaden Bostad.
In March, Heimstaden sold shares for 1.15 billion Swedish kroner in Heimstaden Bostad.
Heimstaden Bostad recently announced that it will sell housing stock for over SEK 20 billion.
The message from the management has been that it is considering various options to defend the credit rating. It is important, among other things, in terms of financing and refinancing.
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2023-11-10 09:26:37
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