Snellman was legal advisor to real estate company NP3 Fastigheter AB, listed on Nasdaq Stockholm (Large Cap), on its directed issue and private placement of 4,000,000 new ordinary shares to Swedish and international institutional and professional investors. The private placement was carried out through an accelerated book-building process, raising proceeds of SEK 1.0 billion before transaction costs. Carnegie Investment Bank AB, Danske Bank A/S, Danmark, Sverige Filial, and Swedbank AB acted as joint global coordinators and joint bookrunners in the private placement.

Snellman also advised NP3 Fastigheter AB on the corporate and capital markets aspects of its acquisition of real estate assets from the closely related party Poularde AB, that was carried out in connection with the private placement. The acquired assets involve 100 percent of the shares in Frösö Park Fastighets AB and 29.6 percent of the shares in Cibola Holding AB, with a property value of SEK 755 million and SEK 620 million respectively. The consideration consists of a mix of cash and 4,000,000 newly issued preference shares in NP3 Fastigheter AB. As the acquisition constitutes a material transaction with, and an issuance of shares to a closely related party, the acquisition and the issuance of the new preference shares are subject to approval by the general meeting in NP3 Fastigheter AB pursuant to the provisions on material transaction between closely related parties and the so-called Lex Leo provisions in the Swedish Companies Act.

Snellman’s core advisory team included Mattias Friberg, Khaled Talayhan and Anton Eriksson.