Nordisk Renting acquires six properties from Din Bil for SEK 680 million

Nordisk Renting AB has entered into an agreement with Din Bil AB, owned by Volkswagen, regarding acquisition of six sales and service centres in Stockholm, Gothenburg, Malmö and Lund, including Din Bil’s headquarters in Södertälje. At the same time, the parties have signed long-term leasing agreements for all the properties. The overall investment is estimated to be worth approximately SEK 680m.

The acquired properties are Din Bil’s largest and most strategically significant buildings. One is a new construction (in Lund), while the others have been newly renovated or are undergoing reconstruction and expansion. “The Din Bil Group is in a proactive period of expansion at the moment. Over the next five years we’ll be investing over half a billion kronor in the working environment, business expansion and other areas,” says Claes Forsgårdh, Chief Executive of Din Bil Sverige AB. “A long-term leasing solution with Nordisk Renting is a crucial step in this development. The agreement also fulfils our stringent requirements on how modern properties should be managed.” Din Bil is part of the German Volkswagen Group, which has more than 300,000 employees worldwide and had a turnover of approximately EUR 87 bn in 2003. Din Bil is the largest dealer of Volkswagen, Skoda, Audi, SEAT, Porsche, Bentley and Lamborghini cars in Sweden. “We are delighted to welcome Din Bil as a customer and view this purchase as the start of a long, close relationship, where we hope to be able to contribute to the positive development of Din Bil,” says Reinhold Geijer, Chief Executive of Nordisk Renting AB. The properties cover a total area of 60,000 square metres and Nordisk Renting will assume ownership on 1 February 2005. For further information, please contact: Reinhold Geijer, CEO, Nordisk Renting AB, tel +46 (0)8 506 198 01 Claes Forsgårdh, CEO, Din Bil Sverige AB, tel + 46 (0)8 553 779 73