Catena signs agreement to acquire logistics site to enable further development of E-City Engelholm
25 October 2018, 8:45 a.m.
Catena has today signed an agreement with a private landowner to acquire 600,000 square meters of land adjacent to E-City Engelholm.
The acquired Kärra 1:9 property in the Municipality of Ängelholm is situated in an excellent logistics location with nearby access to both the E6 and E4 motorways. The acquisition will allow construction of modern and efficient logistics facilities with an estimated area of more than 200,000 square metres with an investment over time of approximately SEK 1 billion. It is expected that businesses moving in here will generate many new jobs, Dream Logistics and e-commerce company Boozt has already established operations in the adjacent area.
Catena’s ambition is to further develop the E-City Engelholm e-commerce cluster with sustainable solutions and intelligent synergies for future trade. This will mainly be achieved through coherent, long-term planning for the area, enabling customers to share operational solutions, services and transport. Striving for the smallest possible environmental impact is an important starting point and this holistic approach is also reflected in carefully considered architecture for the area.
“With E-City, we are placing Ängelholm on the map as a centre for e-commerce logistics. Our vision is a sustainable business cluster, opening up completely new opportunities and offering major synergy benefits for players in digital commerce,” says Catena’s CEO, Benny Thögersen.
The acquisition is being conducted through Catena’s wholly owned subsidiary Queenswall Två AB, at a property value of SEK 42.5 million. The agreement is conditional on an acquisition license being granted. Planning for the acquired property has commenced and is expected to take slightly more than two years.
For further information, please contact
Benny Thögersen, CEO
Tel. +46 (0)706-60 83 50
Annie Nyblom, Communications Manager
Tel. +46 (0)730-70 22 80
Catena’s objective is to own, effectively manage and actively develop well-situated properties that have the potential to generate a steadily growing cash flow and good growth in value. Catena’s overriding goal, based on its focused orientation, is to give shareholders a favourable long-term total return. As of 30 June 2018, the properties had a total value of SEK 13,647.2 million.
Catena AB is listed on the Nasdaq Stockholm exchange.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.