CITYCON OYJ Stock Exchange Release 29 May 2006 at 6.50 p.m.
Citycon to acquire a shopping centre in Lithuania
Citycon has today signed an agreement to acquire the entire share capital of UAB
Rimvesta, which owns the Mandarinas shopping centre in Vilnius, the capital of
Lithuania. The debt-free purchase price of the shares is approx. EUR 14.6 million
and the net yield on the purchase price on the transaction date is 7.3 per cent.
The acquisition of the shopping centre is part of Citycon's expansion strategy in
the Baltic countries. The transaction is expected to be finalised on 2 June 2006
at the latest.
The Mandarinas shopping centre is located in Fabijoniskes, one of Vilnius's
bustling, rapidly growing districts. The total population of Vilnius is 561,000
with the Fabijoniskes district covering around 24,000 and the shopping centre's
primary catchment area a total of almost 50,000 inhabitants.
The Mandarinas shopping centre is a food anchored neighbourhood shopping center
offering its customers a wide range of services. The centre's main grocery
provider is Rimi and specialty shops include FamClub, Mada vaikams, Marli Man,
Marli Woman and Verus. Restaurants, cafeterias and banking services, for example
?ili Pica, Double Coffee and Hansabankas, complement the service offering. The
centre holds a total of 55 shops and restaurants. The shopping centre is expected
to attract approximately 2.6 million customers in 2006.
The shopping centre was completed in September 2005. Leasable premises total some
7,900 square metres, 99.7% of which are currently leased. There are parking
facilities for over 250 vehicles.
For more details on the purchased property, see the company's homepage
www.citycon.fi.
Helsinki, 29 May 2006
CITYCON OYJ
Petri Olkinuora
CEO
Further information:
Petri Olkinuora, CEO, mobile +358 400 333 256
Harri Holmström, Chief Investment Officer, mobile +358 40 845 5726
Citycon is the Finnish market leader in the shopping centre business. It owns a
total of 18 shopping centres in the Helsinki Metropolitan Area and other regional
centres of Finland, and nine shopping and retail centres in the Stockholm and
Gothenburg regions in Sweden, plus the Rocca al Mare shopping centre in Tallinn,
Estonia.
In addition to the shopping centres, Citycon owns 127 supermarket and retail
premises in Finland.
Distribution:
Helsinki Stock Exchange
Main media
www.citycon.fi