Kungsleden divests property for SEK 107 m

Press Release 22 December 2010

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of SEK 107 m. The sales price exceeds book value by SEK 7 m and acquisition cost by SEK 27 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

This office property is located in Sollentuna, north of Stockholm, and has leasable area of about 7,200 sq.m. The Swedish Social Insurance Administration is the tenant on some 83% of the area. The remainder, a basement, is vacant.

The acquirer is Hemfosa Fastigheter AB and completion is scheduled for 1 March 2011.

“I’m really satisfied about doing a deal well over book value and at a good profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 22 December 2010 at 19:00 p.m.

For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile 46 (0)70 690 65 65

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se 

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2010, the property portfolio comprised 559 properties with a book value of SEK 21.8 bn. The holding was located in a total of 130 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.

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