Magnolia Bostad divests project in Åre
Magnolia Bostad has signed an agreement concerning the divestment of all shares in Åre Real Estate AB. Buyer is Svenska husgruppen, in which Magnolia Bostad has a 45 percent ownership. The sale was made to allow Magnolia Bostad to focus on its core business, apartment buildings.Åre Real Estate AB was acquired in January 2012 and owns the property Svedje 1:307 and others, 1,300 sqm of land in Björnen, just outside Åre.The purchase price is based on an underlying property value of approximately SEK 10 million. The deal has no effect on earnings in Magnolia Bostad. Possession will take