Citycon divests two non-core centres in Norway
CITYCON OYJ Investor News 29 November 2022 at 23.50 hrsCitycon has signed an agreement to sell two non-core shopping centres in Norway for approximately NOK 1250 million (approximately EUR 120.8 million). Both assets are unencumbered, and the gross purchase price is within 2.5% of Q4/2021 book values. According to the agreement, Citycon will divest Sjøsiden centre in Horten and Down Town in Porsgrunn to Scala Eiendom AS. The transaction is estimated to close during Q4/2022.“These divestments follow Citycon’ s strategy to efficiently recycle capital and to focus on larger, grocery and