Citycon has successfully completed the transaction to divest two non-core centres in Norway at attractive pricing

CITYCON OYJ   Investor News   28 February 2022 at 19:25 hrs

Citycon has successfully completed the transaction (published on 7 February 2022) to opportunistically sell two non-core shopping centres in Norway for approximately EUR 145.4 million (based on exchange rates as of 3 February 2022), corresponding a net initial yield of 5.2% and in line with the latest IFRS valuation of book value. According to the agreement, Citycon divested Buskerud centre to Aurora Eiendom AS and Magasinet centre to Oslo Opportunity II AS and Vedal Investor AS. The signing took place on 7 February 2022 and transaction was closed on 28 February 2022.

CITYCON OYJ

For further information, please contact:
Sakari Järvelä
Vice President, Corporate Finance and Investor Relations
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 4.5 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 ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj’s shares are listed on Nasdaq Helsinki.

www.citycon.com