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| Name | Symbol | Market | Type |
|---|---|---|---|
| Fabege AB (PK) | USOTC:FBGBY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 18.296858 | 18.296858 | 18.296858 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
By Dominic Chopping
STOCKHOLM--Swedish property company Fabege AB (FABG.SK) said Friday it has signed a 20-year lease with SEB AB (SEB-A.SK) for premises at Arenastaden, in the Stockholm suberb of Solna.
SEB will take large portions of its operations in Stockholm and create 4,500 workplaces in new office buildings.
The annual rental value is SEK157 million, excluding supplements.
"Arenastaden provides us with an excellent long-term solution for locating our premises in Stockholm, which is where we are currently concentrating the majority of our operations," said SEB chief financial officer Jan Erik Back.
The total project cost is about SEK2.3 billion and the new office buildings are scheduled to be completed and enter use in two stages, with the first being in May 2017 and the remainder in May 2018.
Shares closed Thursday at SEK89.40, valuing the company at SEK196.16 billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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