Complex sentence: The Academy uses the building for its meetings, like in the selection and announcement of the Nobel Prize in Literature, but it is more identified with and is colloquially referred to by the name of its tenant, the Stockholm Stock Exchange.
Split into simpler sentences: The Academy uses the building for its meetings, such as those at which it selects-and announces the name of-the recipient of the Nobel Prize for Literature. It is, however, more closely identified with and colloquially referred to by the name of its tenant: the Stockholm Stock Exchange.