Public Property Invest AS: Strategic Acquisitions and Ownership Changes
On May 13, 2025, significant developments unfolded for Public Property Invest AS (PPI), a prominent real estate company in Norway known for owning, operating, and developing commercial properties. The company, listed on Oslo Bors ASA, saw a strategic shift in its ownership structure and portfolio expansion.
Ownership Acquisition by Aker Property Group
Aker ASA’s wholly-owned subsidiary, Aker Property Group (APG), announced the acquisition of a strategic ownership interest in PPI and Samhällsbyggnadsbolaget i Norden AB (SBB). This move was part of a broader agreement involving TRG Real Estate AS (TRG), a company indirectly controlled by Kjell Inge Røkke, Chair of Aker ASA. APG acquired 84,589,085 new shares in PPI, representing 24.58% of the company’s share capital and votes outstanding post-transaction. Prior to this acquisition, APG held no shares, rights to shares, or votes in PPI.
Portfolio Expansion through Critical Infrastructure Acquisition
In a parallel development, PPI signed an agreement to acquire a portfolio of eight mission-critical industrial infrastructure assets from TRG. The acquisition, valued at an equity of NOK 2.325 billion, was based on a net property value of approximately NOK 1.525 billion and a net cash level of around NOK 800 million. In exchange, PPI issued 124,398,074 new ordinary shares at NOK 18.69 per share. Additionally, TRG transferred the right to receive approximately 39.8 million PPI shares to SBB I Norden, an indirect wholly-owned subsidiary of SBB.
Financial Overview of Public Property Invest AS
As of May 8, 2025, PPI’s close price stood at NOK 19, with a 52-week high of NOK 19.76 on September 4, 2024, and a low of NOK 13.67 on May 29, 2024. The company’s market capitalization was reported at NOK 4,158,326,616.
Related Developments in Samhällsbyggnadsbolaget i Norden AB
In related news, SBB, a Swedish real estate group, reported a pre-tax profit in the first quarter of 2025, marking its first profit after eleven consecutive quarterly losses. The company, which owns properties such as hospitals and care homes in Sweden, reported a profit before tax of 1.9 billion Swedish crowns (US$194 million), compared to a revised loss of 1.18 billion a year earlier. This turnaround was attributed to lower costs positively impacting net operating income, despite a decline in net operating income from 736 million crowns to 510 million crowns year-over-year.
These developments highlight a period of strategic growth and restructuring for both PPI and SBB, driven by significant investments and ownership changes.