Citycon has successfully completed the divestment of Trekanten in Norway

CITYCON OYJ     Investor News     30 September 2024 at 17.40 hrs

Citycon has successfully completed the divestment of Trekanten in Oslo, Norway. The transaction was announced and signed on 6 September 2024. Gross purchase price of the transaction is NOK 1 325 million (approx. EUR 112 million). The price is in line with the latest IFRS fair value of the asset, excluding the value of existing building rights. The proceeds from the transaction will be used to repay debt and to further strengthen Citycon’s investment grade balance sheet.

CITYCON OYJ

For further information, please contact:
Sakari Järvelä
Chief Financial Officer
Tel. +358 50 387 8180
sakari.jarvela@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 that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.2 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