Citycon sells two properties in Sweden

Press releases - 2 December 2011


 Citycon Oyj has sold all the shares in Jakobsberg LB Bostäder AB for 51.0 million Swedish krona (approx. EUR 5.6 million) to Bostadsrättsförening BRF Tornerplatsen. The sold company owns 57 apartments in Jakobsbergs Centrum, and their gross leasable area is approximately 4,600 square metres.

 

 Simultaneously, the company has agreed to sell the retail property Landvetter, located in Härryda municipality, for approximately 50.5 million Swedish krona (approx. EUR 5.5 million) to Tornstaden. The gross leasable area of the Landvetter property is approximately 4,800 square metres. The closing of the transaction is estimated to take place in January 2012.

 

 Citycon will recognize a gain on sale of approximately EUR 0.2 million on the transactions. 

 

 The divestments are part of Citycon’s strategy to recycle and focus capital more strongly on the company’s core businesses.

 

 Helsinki, 2 December 2011

 

 CITYCON OYJ

 

 For further details, please contact:

 

 Johan Elfstadius

 Vice President, Swedish Operations

 Tel.: +46 72 530 99 33

 johan.elfstadius@citycon.com

 

 Distribution:

 NASDAQ OMX Helsinki Ltd.

 Major media

 www.citycon.com

  



 

 

  

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