Citycon Becomes Sole Owner of Myyrmanni Shopping Centre

CITYCON OYJ Stock Exchange Release 16 January 2006, at 13.00 hrs Citycon Becomes Sole Owner of Myyrmanni Shopping Centre Citycon Oyj has acquired the remaining 26 per cent holding in the Myyrmanni shopping centre and in addition to that the Valtari shopping centre in Kouvola at a debt-free purchase price of approx. EUR 37 million. The net yield of this investment is 7.4 per cent at the time of acquisition. Consequently, Citycon's holdings in these properties are now 100 per cent. In 2005, the Myyrmanni shopping centre in Vantaa recorded approx. 7.1 million customer visits and total sales of around EUR 158 million. Its gross leasable area is 42,000m². This acquisition will improve Citycon's opportunities to further develop the shopping centre's operations to better meet modern consumer needs. The Valtari shopping centre is one of the largest centres in Kouvola, reporting around 450,000 customer visits and posting total sales of roughly EUR 3.4 million in 2005. Its gross leasable area is 7,619m². Helsinki, 16 January 2006 CITYCON OYJ Board of Directors Further information: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or (mobile) +358 400 333256 petri.olkinuora@citycon.fi Distribution: Helsinki Stock Exchange Main media www.citycon.fi

Subscribe

Order our releases to your email

Stock Exchange and Corporate Press Releases:
Press Releases by Region, in local language (*):

You will automatically receive our releases to your email as they are published. You can unsubscribe at any time. By subscribing you agree to our Privacy Policy