Snellman acted as legal advisor to real estate company NP3 Fastigheter AB (“NP3”), listed on Nasdaq Stockholm, in connection with the dividend in kind and the subsequent block sale of all its class B shares in real estate company Fastighetsbolaget Emilshus AB (“Emilshus”), also listed on Nasdaq Stockholm.
The dividend in kind to the holders of ordinary shares in NP3 comprised approximately 7.2 million class B shares in Emilshus, corresponding to a distributed market value of approximately SEK 229 million. The subsequent share block sale comprised an additional approximately 6.3 million class B shares in Emilshus, at a price of SEK 32 per share, corresponding to sales proceeds of approximately SEK 201 million. The share block sale was conducted through an accelerated bookbuilding (ABB) process which was carried out jointly with a directed issue by Emilshus of 12 million new class B shares. Following NP3’s dividend in kind and share block sale and Emilshus’ directed share issue, NP3 remains with a holding of approximately 2.4 million class A shares in Emilshus, corresponding to 1.8 percent of the shares and 10.2 percent of the votes in Emilshus. ABG Sundal Collier AB, Carnegie Investment Bank AB, Nordea Bank Abp, filial i Sverige and Swedbank AB acted as Joint Bookrunners in connection with the ABB share block sale.

Snellman’s core advisory team comprised Mattias Friberg and Anton Eriksson.