Catena secures additional strategic logistics location south of Stockholm
Catena joins Södertuna Utveckling AB with a 50-percent holding. The purpose is to develop 1,000,000 square metres of land in Järna (in the Municipality of Södertälje) for logistics purposes.
22 November 2019, 11:00 a.m.
For a purchase consideration of SEK 50 million, Catena is acquiring 50 percent of Södertuna Utveckling AB, a newly formed company in which the remaining 50 percent is held by Gerstaberg Gård AB. The new company owns the Södertälje Gerstaberg 1:7 property, situated in an excellent logistics location closely adjacent to the E4 motorway and the railway in the Municipality of Södertälje. The planned East Link railway corridor is also expected to free up freight capacity on the main rail line running alongside the area.
Looking ahead, the purpose of the jointly owned company is to advance the detailed planning process for the land concerned. Within the framework of the collaboration, Catena has preferential rights to purchase land from Södertuna Utveckling as detailed planning is completed. The objective is to establish building rights for all or part of the area. Combined with Catena’s development plans for Stockholm Syd in the Municipality of Nykvarn, this initiative, can make Catena a leading player in locations near the southern approach routes to Stockholm.
“Having opportunities to make acquisitions at the site, builds conditions for further strengthening Catena’s position in the Mälardalen valley, adding up to 400,000 square metres of logistics space, which will be needed to meet future needs and ensure efficient and sustainable flows of freight and goods into the capital,” says Catena’s Regional Manager, Maths Carreman.
A supplementary purchase consideration of SEK 50 million will be payable once the first detailed development plan gains legal force. Once detailed development planning has been completed, Catena will be offered the opportunity to acquire all of the remaining shares in Södertuna Utveckling AB.
For further information, please contact
Benny Thögersen, CEO
Tel. +46 730-660 83 50
benny.thogersen@catenafastigheter.se
Maths Carreman, Regional Manager Stockholm
Tel. +46 730-70 22 12
maths.carreman@catenafastigheter.se
Catena is a listed property company that, through collaboration sustainably develops, owns and manages efficient logistics facilities. Its strategically located properties supply the Scandinavian metropolitan areas and are adapted for both current and future goods flows. The overall objective is to generate strong cash flow, enabling stable development and providing shareholders a favourable total return in the long term. As of 30 September 2019, the properties had a total value of SEK 15,918.3 million. Catena’s shares are traded on NASDAQ Stockholm, Mid Cap.
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