Magnolia Bostad divests project in Åre

Magnolia Bostad has signed an agreement concerning the divestment of all shares in Åre Real Estate AB. Buyer is Svenska husgruppen, in which Magnolia Bostad has a 45 percent ownership. The sale was made to allow Magnolia Bostad to focus on its core business, apartment buildings.

Åre Real Estate AB was acquired in January 2012 and owns the property Svedje 1:307 and others, 1,300 sqm of land in Björnen, just outside Åre.

The purchase price is based on an underlying property value of approximately SEK 10 million. The deal has no effect on earnings in Magnolia Bostad. Possession will take place on March 31, 2016.

For more information, please contact:

Fredrik Lidjan
CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se


Magnolia Bostad was founded in 2009 with the vision of creating modern homes and residential environments through smart functions and attractive architecture. The company develops new housing, both rental apartments and tenant-owned apartments and hotels, mainly in attractive locations in Sweden’s larger cities and regional capitals. We operate with a holistic view that aims to achieve long-term sustainable development for the society at large. Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is engaged as the Certified Adviser for the Company.

More information about Magnolia Bostad can be found at www.magnoliabostad.se

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