Kungsleden divests property for SEK 133 m

Press Release 24 June 2010

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of approximately SEK 133 m. The sales price exceeds book value by some SEK 8 m, and acquisition cost by about SEK 9 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010. 

The property is located in the Lexby industrial estate, around 2 km east of Partille, near Gothenburg, Sweden. Gross leasable area is about 15,000 sq. m., the majority being warehousing. 

Scandinavian Property Group AB has acted as adviser in the transaction. Completion is scheduled for 1 July. 

“We are seeing increased activity on the transaction market, now, a good opportunity has arisen and we have decided to sell” commented Thomas Erséus, Kungsleden’s Chief Executive, “

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 24 June at 08:00 a.m.

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

This press release is available in Swedish at 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 31 March 2010, the property portfolio comprised 556 properties with a book value of SEK 21.2 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 listed on Nasdaq OMX Stockholm since 1999.

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