Diligentia sells properties in Portugal and Spain for SEK 110 m
Diligentia sells properties in Portugal and Spain for SEK 110 m Diligentia has sold a hotel in Portugal and an office property in Spain. The combined sales price is approximately SEK 110 million and will have no impact on earnings. Hotel Cristal in Algarve, Portugal, with 120 rooms has been sold for 1.2 billion Escudos. That equals slightly over SEK 50 million. The office property Marquès de la Argenterra 4 in Barcelona, Spain, has been sold to a Spanish real estate company. The property has a total lettable area of 3,270 square meters. The sale price amounts to 1.1 billion Pesetas, which is slightly less than SEK 60 million. "The sale of the property in Barcelona, means that almost the entire Spanish property portfolio has been divested. Only a small office area in central Barcelona remains with a book value less than SEK 5 million. We will leave the Spanish real estate market during this year," says Anders Jarl, Managing Director of Diligentia Real Estate. Stockholm, August 5, 1999 Diligentia is one of Sweden's largest real estate companies. The book value of the Group's Swedish property assets amounted to SEK 10,455 million on March 31, 1999. The book value of its international properties was SEK 850 million. Diligentia's overall strategy is to concentrate its operations on select market sectors in Stockholm, Gothenburg and the Öresund region. Diligentia is quoted on the A-list of the Stockholm Stock Exchange. For further information, please contact: Anders Jarl, Managing Director of Diligentia Syd, telephone: +46-40-690 84 11 or +46-700-426 84 11, e-mail: anders.jarl@diligentia.se Göran O. Westerberg, Head of Group Communications and Investor Relations, telephone: +46-8-5875 8120 or +46-70-426 8120 e-mail: goran.westerberg@diligentia.se www.diligentia.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/05/19990805BIT00110/bit0001.doc http://www.bit.se/bitonline/1999/08/05/19990805BIT00110/bit0002.pdf