SBB sells 1.16% of education unit, receives $700 mln as part of loan repayment

SBB sells 1.16% of education unit, receives $700 mln as part of loan repayment

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Sept 24 (Reuters) – Swedish property group SBB (SBBb.ST) on Sunday divested 1.16% of its education subsidiary EduCo to Brookfield Super-Core Infrastructure Partners for around 242 million Swedish crowns ($21.73 million) and become a minority owner.

SBB added that EduCo will repay part of its inter-company loan from SBB, resulting in the Stockholm-based company receiving approximately 7.8 billion Swedish crowns ($700.46 million) in cash.

($1 = 11.1356 Swedish crowns)

Reporting by Rishabh Jaiswal in Bengaluru; editing by Barbara Lewis

Our Standards: The Thomson Reuters Trust Principles.

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