Catena acquires three properties in Gothenburg for SEK 158,5 million
1 December 2017, 1:30 p.m.
Catena has today signed an agreement and taken possession of three properties in Gothenburg. The Backa 23:2 property neighbours Catena’s other properties in Hisings Backa, a well-situated area, adjacent to the E6 motorway. The property has a lettable area of approximately 4,000 square metres. The Generatorn 11 and Klarinetten 1 properties are located in Mölndal and have a combined lettable area of 12,000 square metres. The properties have a rental value of slightly more than SEK 13 million and are fully leased with contracts lasting until 2021 to 2023, resulting in a remaining average lease term of 5.3 years.
The transaction is being conducted as a corporate acquisition at an underlying property value of approximately SEK 158,5 million following deductions for deferred taxes. The seller is A & T Holdings S.á.r.L. The purchase consideration for the shares amounts to approximately SEK 87 million and the acquisition is initially being financed through Catena’s own cash and bank balances.
“The acquisition strengthens our position in the Backa area, where we already own three properties, and provides scope for extension. Catena is establishing itself in Mölndal, which we have identified as a good logistics position. Catena is also expanding its customer base in Gothenburg with four new strong customers.” says Johan Franzén, Regional Manager Gothenburg.
For further information, please contact
Benny Thögersen, CEO, Tel. +46 (0)706-60 83 50, email@example.com
Johan Franzén, Regional Manager Gothenburg, Tel. +46 (0)730-70 22 60, firstname.lastname@example.org
Catena’s mission is to own, effectively manage and pro-actively develop properties in prime locations that offer the potential to generate a steadily growing cash flow and favourable value growth. Catena’s overriding goal, based on its focused orientation, is to give shareholders a favourable long-term total return. As of 30 September 2017, the properties had a total value of SEK 11,750,0 million. Catena AB is listed on the Nasdaq Stockholm exchange.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.