Quartiers sells Altura 160 project for MSEK 107.2
Quartiers Properties AB (publ) ("Quartiers" or "the Company") has entered into an agreement with Taylor Wimpey de España S.A.U ("Taylor Wimpey") to sell the Altura160 project in Benahavís for a sales price in EUR equivalent to SEK 107.2 million. Payment will be made in cash releasing a cash flow of SEK 97.7 million for Quartiers over the next 13 months given the current currency exchange rate. Postponed payments are fully guaranteed with a bank guarantee. The sales price represents a premium of MSEK 62.9 to the book value.The Altura160 project is being sold in its entirety and consists of