Kungsleden makes SEK 46 m of property divestments
Press Release 5 October 2009
Listed Swedish property company Kungsleden AB (publ) is selling six commercial properties for a total purchase price of SEK 46.5 m to local landlords. The total sales price is SEK 1.5 m above book value and SEK 3.5 m above acquisition cost. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2009. Total gross leasable area is 10,129 sq.m. Three of the properties are located in Umeå, two are in Nordmaling, northern Sweden, and one is in Skärholmen, south of Stockholm. Kungsleden transferred possession of the property in Skärholmen on 1 September 2009, the properties in Nordmaling on 30 September 2009 and the properties in Umeå, on 1 October 2009. Kungsleden’s Chief Executive Thomas Erséus commented: “We’re working continuously on our portfolio composition to increase our risk-adjusted returns for the long term. I view these investments as good deals in this process.” Kungsleden 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 5 October 2009 at 09.00 a.m.