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PE fund unveils offer to buy property investor at 23 percent premium

EQT has announced an offer to buy a stake in a Swedish property investor which may lead to new investments in the Nordics.

Photo: Colourbox

Swedish property investor Kvalitena, which controls the listed Aarhus-based RE company Admiral Capital, has accepted an offer to sell a strategic stake in Stockholm-based Stendörren to PE fund EQT.

EQT, which originates from the prominent Swedish Wallenberg-family, announced an offer for Stendörren, which is valued at SEK 2.8 billion (EUR 272 million) -- a price over 23 percent higher than the trading value of Stendörren's equities on Nasdaq Stockholm in the last year.

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