STOCKHOLM, June 5 (Reuters) – Shares in Swedish real estate company SBB (SBBb.ST) soared as much as 26% on Monday after incoming CEO Leiv Synnes said there would not be a fire sale of the company’s assets. Hit by soaring interest rates that forced the company to cancel its dividend and scrap a share issue, … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/B54IQXHT75O3DM4DS7DXNAS6HI.jpg "PacWest shares jump after .6 bln real estate loan sale")
May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced that it had agreed to sell $2.6 billion worth of real estate construction loans at a discount in a bid to improve its balance sheet. PacWest’s stock rose nearly 20% on the deal, giving the Los Angeles-based … [Read more…]
OSLO, May 12 (Reuters) – Troubled Swedish real estate group SBB (SBBb.ST) said late on Thursday it had sold most of its shares in construction company JM (JM.ST) for 2.8 billion Swedish crowns ($275.8 million). The transaction gives SBB a much-needed cash infusion after scrapping a share issue earlier this week when ratings agency S&P … [Read more…]