Citycon considering divestment of its non-core properties
Due to market situation and investor interest Citycon Oyj is considering a
divestment of about 75 non-core properties. Citycon's core business consists of
shopping centres, supermarkets and other large retail units. As indicated
earlier, the company is ready to sell off non-core properties in order to finance
its core business growth in Finland, Scandinavia and the Baltic countries.
All of the sell-off properties with a total area of 96,000 square meters are
located in Finland. The company aims to complete the divestment during the first
half of 2006.
Helsinki, 9 February 2006
CITYCON OYJ
Board of Directors
For further information, please contact:
Petri Olkinuora, CEO, tel. +358 9 6803 6738 or
mobile +358 400 333 256
Distribution:
Helsinki Stock Exchange
Major media
www.citycon.fi