Finnish pension insurance company Varma has completed the planned sale of approximately 40.6 million shares in real estate firm Atrium Ljungberg, according to a press release.
The divestment was executed through an accelerated bookbuilding process targeting Swedish and international institutional investors. The price was set at SEK 27.35 per share, representing a discount of approximately 7 percent relative to Atrium's most recent closing price. The total transaction value amounts to approximately SEK 1.11 billion.
Following the disposal, Varma no longer holds any shares in Atrium, having previously been the company's fourth-largest shareholder.
Atrium Ljungberg AB, formerly LjungbergGruppen AB, is a Sweden-based company that is active within the real estate sector. The Company is engaged in the ownership, development and management of real estate property, principally in Stockholm, Malmo and Uppsala in Sweden. The Company also owns properties in Ostersund, Vasteras and Halmstad. Its property portfolio is comprised of office and retail properties, as well as residential real estate. The Company is also operational through a number of wholly owned subsidiaries, comprising TL Bygg AB, Impluvium Tio AB, Fastighets AB Blastern, Arstalunden AB, PUB AB, Suhob Fastighets AB, LjungbergGruppen Holding AB, Fastighets AB Celtica and Atrium Fastigheter AB. In addition, the Company holds stake in Sickla Industrifastigheter KB and has a number of indirectly owned subsidiaries. In February 2014, the Company acquired property Nacka Sicklaon 83:33 from Lansforsakringar Liv's subsidiary.
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