HiQ divests holding in Westend Affärscentrum

HiQ has today entered into an agreement with YIT to sell HiQ’s holdings in Westend Affärscentrum OY. The divestment will result in a gain of approximately SEK 20 million, which will be booked in the second quarter 2019. 

HiQ has, through the subsidiary HiQ Finland, owned 29.9 per cent of Westend Affärscentrum OY which therefore has been consolidated as an associated company. Westend Affärscentrum owns and manages an office building in Espoo, Finland, in which HiQ Finland previously had their office.

HiQ’s assessment is that the divestment will result in a gain during the second quarter 2019 of approximately SEK 20 million, net of transaction costs. Payment for the sold shares will be done during a two year period, with the first payment being made in the second quarter 2019.

For more information, please contact: 
Lars Stugemo, President and CEO HiQ, tel: +46 8-588 900 00
Fredrik Malm, CFO HiQ, tel: +46 70-420 00 17, e-mail: fredrik.malm@hiq.se

HiQ helps to make the world a better place by making people’s lives simpler through technology, design and communication. We are the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ has over 1,600 specialists in four countries and is listed on the Nasdaq Stockholm Mid Cap list. For more information and inspiration, please visit www.hiq.se