Fastighets AB Balder Acquires 49 Percent of Sjaelsö Management

Regulatory News:

Fastighets AB Balder (STO:BALDB):

Balder has bought FIH’s share of 49 percent in Sjaelsö Management ApS, effective from January 1, 2016. The remaining 51 percent is unchanged owned by Sjaelsö Management's CEO Flemming Joseph Jensen.

”We got to know the Sjaelsö team in 2010 and made our first business together in 2011. We are now very pleased to become shareholders in Sjaelsö. We have a positive view of Denmark and has as always a long term view on this investment as well as our other investments in Copenhagen”, Balder's CEO Erik Selin.

CEO Flemming Joseph Jensen welcomes Balder as a new partner in Sjaelsö Management. ”I have known Erik Selin for many years, and see Balder's financial strength and their professional and proactive approach to the Danish real estate market as a perfect match to Sjaelsö Management's expertise in project development and construction management. I am convinced that Balder's ownership will create great value for both Balder and Sjaelsö Management.”

It is not agreed any exclusivity on future projects between the parties. Balder can thus continue to develop and invest in real estate projects in Denmark with other players, and Sjælsø Management can continue to enter into development and cooperation agreements with other real estate investors.

Sjaelsö Management in brief. Sjaelsö Management with almost 40 employees, is one of the major actors in project development and construction management in Denmark. Ongoing projects include over 1,200 residentials and represents a value of more than DKK 3 billion. Sjaelsö Management expects continued high activity in the property market and thus great demand for the companys expertise in the coming years.

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