Today, Citycon acquired 30 per cent of shopping centre Stenungstorg located in the Stenungsund municipality north of Gothenburg, Sweden for approximately SEK 126 million (approx. EUR 14.7 million) from KF Fastigheter AB. Citycon acquired the 70 percent share of the shopping centre in 2006 and then KF Fastigheter AB remained as a minority shareholder. The acquisition price is based on the shopping centre’s current market value.
Citycon is planning to invest approximately EUR 21 million in the shopping centre as it will be redeveloped and extended by 5000 sq. m. The two year project is expected to start in 2013 as soon as required pre-leasing is obtained.
Helsinki, 1 November 2012
For further information, please contact:
Johan Elfstadius, Vice President, Swedish Operations
Tel. +46 72 530 99 33
NASDAQ OMX Helsinki