DEAS Group agrees deal with Aberdeen Standard Investments to acquire Nordic direct real estate business
November 30th, Aberdeen Standard Investments (ASI) announced it had selected DEAS Group, the leading asset and property management group in Denmark, as the preferred bidder to acquire its Nordic direct real estate business, covering real estate in Sweden, Norway, Finland and Denmark.
The agreement has now been signed and the deal is expected to complete by the end of Q1 or the beginning of Q2 2021.
Subject to the satisfaction of certain completion conditions, the intention is for DEAS Group to take over the management of a portfolio of 132 properties consisting of office, warehouse/logistics, retail and residential buildings. Furthermore and subject to the same deal completion conditions, ASI has appointed DEAS Asset Management to provide asset management services in respect of the Nordic assets in Pan-European real estate funds.
The deal will remain subject to certain standard completion conditions including approval from financial supervisory authorities.
Published 08. January 2021