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REFILE-BRIEF-Klovern to buy stake in Tobin Properties
December 5, 2017 / 5:22 PM / 12 days ago

REFILE-BRIEF-Klovern to buy stake in Tobin Properties

(Refiles to fix headline)

Dec 5 (Reuters) - Klovern AB:

* KLÖVERN SIGNS A CONTRACT REGARDING A COMMITMENT TO BUY ORDINARY SHARES IN A DIRECTED SHARE ISSUE AND TO GUARANTEE A RIGHTS ISSUE IN TOBIN PROPERTIES

* KLOVERN SAYS ‍HAS SIGNED A COMMITMENT TO BUY 7 500 000 ORDINARY SHARES IN A DIRECTED SHARE ISSUE AT A PRICE OF SEK 20 PER SHARE, IN TOTAL SEK 150 MILLION​

* KLOVERN SAYS ‍AFTER ISSUE WILL OWN AROUND 40 PER CENT OF NUMBER OF SHARES AND HOLD AROUND 42 PER CENT OF VOTING RIGHTS IN COMPANY​

* KLOVERN SAYS ‍INVESTMENT IN TOBIN PROPERTIES NOT AN EXPRESSION OF HOUSING MARKET HAVING BOTTOMED OUT, ON CONTRARY IT IS A WAY TO TAKE ADVANTAGE OF FUTURE OPPORTUNITIES WHICH A PROBABLY WEAK MARKET DURING 2018 WILL OFFER​ Source text for Eikon: Further company coverage: (Reporting By Simon Johnson)

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