Nyfosa signs letter of intent to divest logistics portfolio for approximately SEK 2.1 billion
Nyfosa has today signed a letter of intent with funds advised by Blackstone to divest a logistics portfolio with an approximate value of SEK 2.1 billion. The divestment will pave the way for new acquisitions with cash flow in focus.
The intention is to enter into a binding divestment agreement in September, 2020. Nyfosa will provide more information as soon as the terms of the divestment have been agreed.
“Nyfosa will continue to grow, strengthen its cash flows and be active in the transaction market. Through this divestment in the logistics segment, we strengthen the balance sheet for new acquisitions with a focus on growth in cash flow. We have maintained a high transaction rate over the past year with property acquisitions amounting to approximately SEK 13.5 billion and divestments amounting to around SEK 1 billion.”, says Stina Lindh Hök, COO of Nyfosa.
For more information, please contact:
Stina Lindh Hök, COO, firstname.lastname@example.org, mobile +46 70 577 18 85
Jens Engwall, CEO, email@example.com, mobile +46 70 690 65 50
Before it was published, this information was inside information and is such information that Nyfosa AB is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the aforementioned contact persons on July 9, 2020, at 8.45 a.m. CEST.
Nyfosa is a transaction-based and opportunistic property company. The company’s business concept is based on active participation in the Swedish transaction market combined with an investment strategy that can be flexible to the property market. The aim is to develop and add value to a growing property portfolio with sustained high returns. At present, Nyfosa is focusing primarily on commercial properties in Sweden. As of March 31, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 24.8 billion. Read more at www.nyfosa.se