The sale of Karlatornet is being postponed
Completion of the sale of Karlatornet, which was due to happen within days, is being postponed. The reason is the uncertain situation in the global financial market caused by the corona pandemic. Consequently, Serneke will minimalize all activities in the construction of the tallest house in the Nordic region.
It was mid-January of this year that Serneke and Oaktree Capital Management reached a principle agreement to divest 80-percent of Karlatornet, situated on the Karlastaden estate in the Lindholmen area of Gothenburg. Since then, a process of finalizing senior financing and transaction documentation has been set to be completed during the first months of 2020.
However, due to the concern caused by the corona virus in the global financial market, Serneke's intended partner in the project has decided to postpone the closing of final agreements to the future.
- It is obviously a disappointment that we cannot keep the timing for completion of the transaction that we had set up. But we do not control the current situation in the world, and we see how the global turmoil disturbs industry after industry with serious consequences, says Ola Serneke, CEO of Serneke Group.
Because of the postponed closing, Serneke will Serneke will take immediate actions to minimalize all activities in the project.
- We must take responsibility for the entire company in this situation and until we have analyzed the consequences of this and what the future development will look like, we need to take strong actions. This will have direct consequences on resources tied to the project. An analysis of these consequences as well as the impact for the schedule may we return to as soon as possible, says Ola Serneke.
Serneke to construct new court building in Vänersborg
Serneke and Hemsö Fastigheter AB have signed a turnkey contract regarding new premises for the Väner...;
Top apartment in Karlatornet sold at record price
The second of the two top-level apartments in the Karlatornet tower has now been sold. For the purch...;
- 10/7/2022 Regarding recruitment scams in the USA
Serneke has signed a contract for the second phase of the new treatment plant project in Kalmar
Serneke and Kalmar Vatten have, based on a previously entered collaboration agreement, taken the nex...;
Serneke sells rental housing projects in Örebro
Serneke is selling the Söderläge housing project in the Tamarinden district of Örebro to CapMan. The...;
Karlatornet is now the tallest building in Gothenburg
Newcomer rules the roost in Gothenburg. With the pouring of the 45th story of the Karlatornet tower’...;
Conversion of all series A shares to series B shares
Serneke Group AB has received a request from the series A shareholders to convert all shares of seri...
Conversion of shares in Serneke Group
According to Serneke's articles of association, owners of series A shares have the right to request ...
Nomination committee appointed for Serneke Group AB's Annual General Meeting 2023
The members of the nomination committee for Serneke Group AB's Annual General Meeting in 2023 have n...