Hannes Snellman Counsel to NP3 Fastigheter AB on its Joint Venture with AB Sagax
11 December 2020
Hannes Snellman advised NP3 Fastigheter AB in connection with the establishment of a joint venture with AB Sagax for the purpose of jointly acquiring, owning and managing a real estate portfolio. The real estate portfolio was acquired from Stark Group and comprises 37 real estate properties with an underlying property value of approximately SEK 1.4 billion. NP3 Fastigheter AB and AB Sagax are both listed on Nasdaq Stockholm. Because of AB Sagax’ substantial shareholding in NP3 Fastigheter AB and the significant size of the transaction, the transaction was considered a material transaction with a closely-related party and thus required special approval by the general meeting of NP3 Fastigheter AB.