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28 February 20241 minute read

DLA Piper advises Castlelake, L.P. on the establishment of a joint venture with Samhällsbyggnadsbolaget i Norden AB (publ)

DLA Piper has advised Castlelake L.P, an international alternative investment firm, on the establishment of a new joint venture with Samhällsbyggnadsbolaget i Norden AB (publ) (SBB).

The funds, apprixmately EUR470 million, will be utilised to acquire a portfolio of community properties in Sweden and Finland from SBB and a part to refinance existing debt to SBB.

The DLA Piper team was led by London-based partners from DLA Piper’s Finance practice, Paul Gray and Lewis Gaut while the Swedish team was led by Stockholm based Finance partner, Carl Schwieler. They were supported by a cross-jusidictional team of partners, legal directors, counsel, senior assoicates and associates spanning the UK, Sweden, Finland and Luxemburg.

Paul Gray said: “This was a complex transaction which required speed and precision. Leveraging our firm’s global network, we were able to put a team in place to meet the needs of SBB and Castlelake. The refinancing of debt and joint venture will allow SBB to strengthen its financial position and reduce its debt, to maximise opportunities in the care sector in the Nordic region.”