SBB Norden - comment
After losing two directors last week, SBB has gained an advisor this week. Lennart Sten has impressive credentials in Real Estate. However, we are unsure of what his role will entail. SBB is splitting into three units, where SBB will be a minority in two (assuming the Residential business finds a partner). SBB will hope its real estate assets rise in value and the Holding Company debt becomes financeable before maturities overwhelm the company.