SWEDEN – AP6, Sweden’s 1.9 billion euro sixth national pension fund, has sold its 25% stake in real-estate firm Nordisk Renting for 220 million kronor (23.9 million euros), saying the profit from the deal will offset stock market losses.
AP6 said in a statement that it has sold its stake in the company to Nordea. “The profit from AP6’s Nordisk Renting deal to a certain extent offsets the fall on the stock markets during the last few years,” AP6 said.
It said the sale of the Nordisk stake is an example of its focus on active ownership in small, expanding companies in Sweden. AP6’s stated aim is to “contribute to the development of Swedish business by providing risk capital for small and medium-sized companies”.
Nordisk Renting has a 1.5 billion euro European real estate portfolio.