Deals
Swedbank Buys Stake in Estonian Property Developer Arealis
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Swedbank AB, the biggest lender in the Baltic countries, purchased a minority stake in AS Arealis to “stabilize” the Estonian property developer.
Swedbank’s subsidiary FR&R Invest AB will buy 50 percent minus one share in Tallinn-based Arealis from Nordic Contractors AS as a financial investment for three to five years, the companies said in a joint e-mailed statement. The equity capital of Arealis is 49 million euros ($68.6 million) after the deal, it added.