ICA Real Estate completes land exchange with the City of Stockholm
On 12 June, ICA Real Estate completed a land exchange with the City of Stockholm where ICA Real Estate divests land for SEK 843 million and at the same time acquires land for SEK 371 million with a net cash flow effect of SEK 472 million.In 2013, ICA Real Estate signed a land allocation agreement and letter of intent on a reparceling with the City of Stockholm involving the divestment and acquisition of land in Årsta. The letter of intent means that ICA Real Estate acquires an additional parcel of land adjacent to Postgården 1 and divests land within Postgården 1 to the City of Stockholm.