Catena divests a property in Copenhagen to the Danish University and Property Agency (DUPA)

Catena has signed an agreement with the Danish University and Property Agency (DUPA) regarding the divestment of Catena’s property on Jagtvej road in Copenhagen. The property, which comprises about 5,300 square meters of floor space and has Bilia as a tenant, was sold for DKK 53 million (about SEK 73 million). This is DKK 14.5 million (about SEK 20 million), or 27 per cent above the appraised value as of 30 September 2009, corresponding to approximately SEK 1.70 per share. The property will be transferred to the buyer on 1 June 2010. The divestment will be recognised in the second quarter of 2010. “The property’s strategic location in the future campus area, which DUPA intends to develop, has created the means for a favourable transaction for both parties,” says Peter Hallgren, President of Catena.