stockholmswedish property company samhallsbyggnadsbolaget i norden ab or sbb said wednesday it will sell a 49 stake in its nordic education portfolio to brookfield asset management inc for up to 104 billion swedish kronor 9828 million in cash the deal will see sbbs social infrastructure portfolio for public education which includes preschools elementary schools uppersecondary schools and universities transferred into a newly formed subsidiary called educo brookfield will then acquire a 49 stake in educo from sbb for sek92 billion up front with an additional earnout of up to sek12 billion the educo portfolio will consist of 585 incomeproducing assets spread across the nordics generating expected revenue of sek23 billion in 2023 and net operating income of sek19 billion it said the new company will be operated and managed by sbb and will seek to invest in and manage social infrastructure assets within the publicbacked education sector in the nordics establishing educo will make us even better placed to continue delivering important infrastructure to the nordic welfare states sbb chief executive ilija batljan said with brookfield as our longterm partner we will also benefit from diversifying sbb groups funding sources whilst we accelerate deleveraging of our group balance sheet in line with our strategy the transaction is expected to be fully completed in the first or second quarter of 2023 a letter of intent announced earlier this year related to sbbs proposed divestment of a sek9 billion portfolio has been terminated it added