Kungsleden’s sale of Nordic Modular Group has been completed

Kungsleden’s divestment of 65 per cent of Nordic Modular Group to Inter IKEA Investments has been completed after approval from the Swedish Competition Authority in accordance with the conditions communicated on November 14, 2014. 

With the transaction Kungsleden will release net funds of approximately 700 MSEK. The released funds will be used to purchase properties in accordance with Kungsleden’s strategy, which allows a purchase capacity of approximately 1.8 billion SEK with an assumed LTV ratio of around 60 per cent.

For more information, please contact:

Biljana Pehrsson, Chief Executive of Kungsleden | 46 (0)8 503 052 04 | biljana.pehrsson@kungsleden.se

Anders Kvist, Deputy CEO and CFO of Kungsleden | 46 (0)8 503 052 11 | anders.kvist@kungsleden.se

Henrik Jonsson, CEO Inter IKEA Investments AB |+45 (0)8-551 176 80

 

www.kungsleden.se

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden

The information was provided for public release on 8 January 2015 at 12:15 p.m.

Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ Stockholm since 1999.

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About Us

Kungsleden is a property company operating in Sweden and listed on Nasdaq Stockholm. We focus on owning, actively managing, improving and developing commercial properties long-term in the office, industry/warehouse and retail segments, in chosen growth regions such as Greater Stockholm, Greater Gothenburg, the Mälar Valley and southwestern Sweden. We offer appealing and functional premises in the right locations at the right price. Clustering our properties, ensuring a good local knowledge and being close to our customers allows us to quickly offer new solutions when our customers’ needs change.