SSM Holding AB (publ), Sweden’s leading developer of smart, affordable homes, has decided not to continue the process to acquire five industrial properties in Täby, Segeltorp, Sollentuna and Bromsten.
During the first quarter of 2018, SSM announced that the company had signed an exclusive letter of intent with Keyser Fastigheter AB with the purpose of investigating the preconditions for acquiring five development projects deemed to have the potential to be developed into approximately 1,200 homes. The projects were located in Täby, Segeltorp, Sollentuna and Bromsten.
Since the letter of intent was signed, SSM has completed the necessary investigations, secured the municipality’s city plan and analyzed the preconditions for each project. SSM has concluded that at the moment, there are no commercial preconditions for completing the acquisitions of the projects, which is why SSM has chosen to end negotiations.
The information in this press release is such, which SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18.00 CET on October 23, 2018.
For more information, please contact:
Chief Communications & IR Officer
Phone: +46 761 65 17 71
About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in June 2018, the company has approximately 6,500 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se