Citycon divests Stopp Tune shopping center in Norway reaching EUR 354 million in divestments year to date
CITYCON OYJ Investor News 9 December 2024 at 08:45 hrsCitycon has signed a binding agreement to divest Stopp Tune shopping center in Sarpsborg, Norway for a gross purchase price of around EUR 20 million. The price is close to the latest IFRS fair value of the asset net of deferred tax impact. This divestment follows Citycon’s strategy to divest of non-core assets, as the divested asset is a small, car-based shopping center it categorises as a non-core asset for Citycon. The deal is estimated to close by mid-December 2024 and the proceeds from this transaction will be used to repay debt