Fabege sells residential development rights

Fabege has divested the forthcoming development rights for residential properties in Alvik (Racketen 11) and Solna (Styckjunkaren 4) to Peab and JM, respectively. While the transactions were already agreed upon, the terms and conditions have only now been fulfilled. Both of the transactions were implemented as sales of companies and resulted in a combined after-tax gain of SEK 47m, which will be recognised in the accounts for the fourth quarter of 2011.

“The detailed planning work generated strong value growth for us and the time was now right for the residential developers to take over,” says Klaus Hansen Vikström, Director of Business Development at Fabege.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
Klaus Hansen Vikström, Director of Business Development, phone +46(0)8 555 148 74, +46(0)70 239 34 81

This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 3.00 p.m. CET on 9 January 2012.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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