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2016-11-25

Fabege: Fabege takes on greater responsibility for Friends Arena

Fabege is to acquire the City of Solna, Peab and Jernhusen's stakes in
Arenabolaget i Solna KB, which owns the Nationalarenan 1 property,
better known as the Friends Arena.

The Friends Arena is a central part of Arenastaden, which is one of
Fabege's most significant urban development areas. Following the
acquisition, Fabege and the Swedish Football Association (Svenska
Fotbollförbundet, SvFF) will together pursue the continued
development of the arena.

One condition for the transaction has been the completion of a
previously planned capital contribution. As a result of the capital
contribution, Arenabolaget is gaining the Nationalarenan 9 property,
`Arenagate', which comprises the entrance to the arena. This
restructuring will substantially improve the future liquidity of
Arenabolaget, both through the redemption of expensive financing
solutions and through the repayment of loans. One condition for the
implementation of the transaction is that approval is obtained from
the City Council in Solna.

The new ownership set-up and capital contribution to ABS mean that
Fabege's net exposure in the balance sheet remains unchanged. The
estimated impact on earnings in 2017 is expected to improve in
comparison with the outcome for 2016, despite a larger holding.

Fabege's holding after the restructuring amounts to 66.7 per cent,
which means that Fabege is taking greater responsibility for future
earnings. Through the equal division of ownership in the limited
partnership ABS AB (50/50), Fabege and SvFF, as equal parties with an
equal interest, will have joint responsibility for the future
development of ABS. ABS will not be consolidated into the Fabege
Group, but will instead continue to report its earnings as an
associated company.

- "Arenabolaget is being strengthened as a result, and Fabege will now, together with SvFF, be given improved conditions for pursuing the arena's long-term future development," commented Christian Hermelin, CEO of Fabege AB.

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Vice President and CFO, phone 46 (0)8 555 148 29, 46
(0)70 666 13 80

This information is of the type that Fabege AB is required to disclose
under the EU Market Abuse Regulation. This information was released,
through the provision of the above-mentioned contact person, for
publication on 25 November 2016, at 8.00 am CET.

Fabege AB (publ) is one of Sweden's leading real estate companies
focusing on letting and managing office premises as well as city
district development. Fabege owns properties with a total carrying
amount of SEK 44.7bn. The property portfolio, which is concentrated
in the Stockholm region, has a rental value on an annualised basis
amounting to SEK 2.3bn and a lettable area of 1.1 million sqm.
Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap
segment. For further information, visit www.fabege.com

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http://news.cision.com/fabege/r/fabege-takes-on-greater-responsibility-f...
http://mb.cision.com/Main/1568/2130501/595229.pdf

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