DnB NOR has put forward an offer to buy the shares in Svensk Fastighetsförmedling AB for SEK 440 million. The Board of Directors in the Swedish chain of real estate brokers recommends the offer. Through the acquisition of Svensk Fastighetsförmedling, the real estate brokerage operations of DnB NOR will be the most extensive in the Nordic region. Svensk Fastighetsförmedling is the leading and best known chain of real estate brokers in Sweden. This year the chain will sell some 30 000 homes, and its market share is about 20 per cent of the Swedish market. Operations include more than 200 brokerage offices in Sweden and are currently owned by the individual brokerage offices in the chain. "Svensk Fastighetsförmedling will give us a leading position also within Swedish real estate broking, together with a well-developed distribution network across Sweden enabling the distribution of housing loans," says Åsmund Skår, group executive vice president in DnB NOR. The DnB NOR Group is the largest market participant in Norway within real estate broking with the market leader DnB NOR Eiendom and Postbanken Eiendom. Total turnover this year is estimated at close to 22 000 homes. Market leader in Norway and Sweden "By purchasing Svensk Fastighetsförmedling, the DnB NOR Group will become the largest real estate broker in the Nordic region. As the leading market participants in our respective markets, we have a lot to gain from each other with respect to expertise and product development," says Kjell Thomassen, head of DnB NOR Eiendom. Svensk Fastighetsförmedling AB is the chain's operating and development company. The offer does not entail any changes to the ownership of each real estate office. "With DnB NOR as owner, we will be able to meet the needs and requirements of customers more rapidly and effectively, while retaining our strong brand. By exchanging experiences and resources, we will be able to further strengthen our position as the leading market participant in the Swedish real estate brokerage market," says Peeter Pütsep, managing director of Svensk Fastighetsförmedling AB. DnB NOR's offer to the shareholders of Svensk Fastighetsförmedling AB totals SEK 440 million, SEK 300 million of which is to be paid now and the remaining amount over a period of two years. The final purchase price will depend on how many of the shareholders accept the offer and on the company's performance over the next two years. The transaction is subject to approval by the shareholders in Svensk Fastighetsförmedling AB. Contact persons: Eivind Grønstad, head of Corporate Communications, telephone +47 920 31 505 Åsmund Skår, group executive vice president Retail Banking, telephone +47 917 31 345 Kjell Thomassen, managing director DnB NOR Eiendom, telephone +47 909 47 147 www.dnbnor.com www.svenskfast.se
Largest real estate broker in the Nordic region
| Source: DnB NOR Bank ASA