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Public Property Invest (PUBLI) investor relations material
Public Property Invest M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Deal rationale and strategic fit
Acquisition triples portfolio size to NOK 53bn and 841 properties, making it the largest listed social infrastructure company in Europe.
Increases exposure to elderly care and healthcare segments, aligning with demographic trends and stable, government-backed rental income.
Diversifies assets across Norway, Sweden, Denmark, and Finland, with Sweden representing 53% of gross asset value.
84% of rental income from long-duration, government-backed tenants, supporting earnings stability and dividend capacity.
Strengthens strategic positioning and capital markets profile, supporting long-term growth.
Financial terms and conditions
Acquisition price set at NOK 34bn for 737–841 properties, representing an 8% discount to book value of NOK 37bn.
Financed by NOK 13.8bn in new equity (Aker: NOK 5.4bn, SBB: NOK 6.2bn, others: NOK 2.2bn), NOK 13.5bn bridge loan, and NOK 6.9bn from balance sheet cash.
SBB receives 446.9m new shares as part of consideration; APG Invest commits NOK 1.3bn in private placement.
Two-year investment grade bridge financing secured from JPMorgan and DNB.
Balance sheet remains solid with LTV below 50% and net debt to EBITDA at 9x.
Synergies and expected cost savings
Immediate 14% increase in normalized net income from property management per share.
Financial synergies expected from improved financing terms and economies of scale.
Retains attractive dividend policy and focus on growth and market consolidation.
Next Public Property Invest earnings date
Next Public Property Invest earnings date
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