Akelius acquires stake in Castellum for €424m

Akelius acquires stake in Castellum for €424m

Akelius Residential Property said it buys 40 million shares in Castellum from M2 Asset Management.

Akelius said this corresponds to 12.2 percent of the total number of shares in Castellum excluding shares held by the company.

Purchase price is SEK 115 per share, in total SEK 4.6 billion, or EUR 424 million.

Ralf Spann, CEO: ”Akelius recognizes Castellum’s strong and diversified position in the Swedish commercial real estate market as well as its growing presence in other Nordic markets.

”The purchase of shares in Castellum is a financial investment that offers diversification as well as a good dividend yield. Further, Akelius shares Castellum’s ambition to be a frontrunner in sustainability.

”Being one of the Nordic region’s most sustainable property companies, Castellum’s sustainability work is a positive contribution to Akelius’ efforts in the field.

”Akelius can support Castellum’s ambition to keep an investment grade rating.