Kungsleden divests six properties for SEK 809 m
Press Release 24 November 2010
Swedish property company Kungsleden AB (publ) is selling six commercial properties for a total purchase price of SEK 809 m. The sales price exceeds book value by approx. SEK 23 m and is consistent with acquisition cost.
The properties are located in Ludvika, north west of Stockholm, and are essentially let to ABB. Gross leasable area is approximately 190,000 sq.m. and total rental value is about SEK 87 m.
The buyer of these properties is ABB Fastighet AB. Kungsleden completed the divestment on 23 November 2010.
“Because Kungsleden’s property portfolio in a location like Ludvika is already sizeable, we have opted to let ABB acquire the properties to develop this portfolio itself. After the divestment, ABB remains a significant tenant for Kungsleden”, commented Kungsleden’s Chief Executive Thomas Erséus.
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 24 November 2010 at 08:00 a.m.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46 70 690 65 65
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2010, the property portfolio comprised 559 properties with a book value of SEK 21.8 bn. The holding was located in a total of 130 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.