Citycon has successfully closed three earlier announced divestments

CITYCON OYJ   Investor News   19 December 2024 at 18:10 hrs

During December 2024 Citycon has successfully closed three earlier announced divestments and 2024 year to date closed divestments reach around EUR 354 million.

The closed divestments include two shopping centers, Stopp Tune in Norway and Kristiine keskus in Estonia, for a total gross purchase price of approx. EUR 148 million for these two assets. Additionally, Citycon successfully closed the divestment of the residential property in Barkarbystaden in Sweden. The divestment was executed back-to-back, simultaneously with Citycon's purchase of the asset from the developer. As the asset was acquired as a forward commitment, this transaction will have minimal impact on Citycon’s cash flow. All three transactions were announced during Q4/2024.

The proceeds from divestments will be used to repay debt and to further strengthen Citycon’s investment grade balance sheet.

CITYCON OYJ

For further information, please contact:

Media contact request through:
Pia Grahn
Communications Director
Tel. +46 73 037 1722
pia.grahn@citycon.com

Investor contact requests through:
Anni Torkko
Investor Relations Manager
Tel. +358 45 358 0570
anni.torkko@citycon.com

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces predominantly in urban market in the Nordics.  The company is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit rating from Standard & Poor's (BBB-). Citycon Oyj’s shares are listed on Nasdaq Helsinki.

www.citycon.com