Aros Bostadsutveckling AB (publ) (OM:AROS) entered into a letter on intent to acquire Portfolio of 1,505 building rights from ALM Equity AB (publ) (OM:ALM) on May 16, 2022. As on August 15, 2022, Aros Bostadsutveckling AB (publ) completed the acquisition of 1500 building rights for approximately SEK 1470 billion. Payment will be conducted in two steps, through a non cash issue of 9,942,470 common shares to a price of SEK 60 per share corresponding to ca 17 percent of the share capital and a non cash issue of 2,953,161 preference shares to a price of SEK 86 per share, plus 5,126,923 convertible shares which are to be converted to common shares during 2023 at the calculated time of access.

As part of the agreement, around ten of the employees who have worked with the projects at ALM Equity will join Aros Bostad. The agreement is conditioned by required authorisations, decision at Shareholder meeting of Aros Bostad and investor approvals. Access is planned to the end of the third quarter.

Aros Bostadsutveckling AB (publ) (OM:AROS) entered into an agreement acquire Portfolio of 1,505 building rights from ALM Equity AB (publ) (OM:ALM) on August 15, 2022.