27. April 2013

H&M boss buys Fågelbro Golf and Country Club for 100 million Swedish kronor

Photographer: Jacob Sjoman
Last Monday on its annual general meeting the Fågelbro Golf & Country Club decided to sell it entire operation to Swedish billionaire Stefan Persson. The boss of textile giant H&M paid 100 million Swedish kronor (approx. 15 million USD) for a 100 acres property including the well known golf course. Persson assured that he will keep the golf course operating that he is also a member of himself. 
The purchase is adding more land to the 650 acres, that he already owns on the island of Värmdö in the Stockholm archipelago.

Talking about his goals with the land that he owns, Persson promises an emphasis of preserving the nature, culture and heritage of Värmdö. One other reason for the purchase could also have been, that Persson wanted to prevent development projects close to his own home on the island. 

All of the present 520 shareholders at the general meeting approved the plan and will receive approx. 100.000 SEK each. The club is now debt free and looking into a bright future.

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Original article from Swedish website golf.se.

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