Samhällsbyggnadsbolaget i Norden, which owns residential and public buildings throughout Sweden, and Castellum, a real estate investment company, made competing offers to acquire Entra, a Norwegian real estate company. Entra said that the potential offer from SBB will not be recommended by its board. The Norwegian Ministry of Trade, Industry and Fisheries agreed to sell its 8.2% stake to Castellum. "We would like Entra to become part of SBB and join us in our ambition to create the leading social infrastructure company in Europe, a company with a unique, attractive and stable property portfolio with long leases, high occupancy rates and a diversified and high-quality tenant base across the Nordics. We see opportunities to unlock significant synergy potential particularly from refinancing benefits accelerating financial cost and operational savings, which will benefit all shareholders and other stakeholders," Ilija Batljan, SBB CEO. On December 9, 2020 SBB withdraws $3.4bn bid for Entra citing due diligence concerns after the Norwegian company reported a higher valuation for its assets. On December 23, 2020 SBB raises its offer $4bn, with 65% payable in cash and the remainder in a fixed value of Class B shares, which it aims to list on the Oslo Stock Exchange in 2021.