Pilängen Logistik divests XXL’s logistics centre in Örebro to Aberdeen Standard Investments
| Pilängen Logistik AB (publ) (“Pilängen”), a company established and managed by Pareto, has today divested XXL’s logistics centre located in Örebro, Sweden, to Aberdeen Standard Investments for around SEK 400 million. The logistics centre, which comprises approximately 43,000 square metres, is fully let to the leading Norwegian sports retailer XXL with over 10 years remaining lease period. XXL has two logistics centres in the Nordics, one in Örebro (inside the EU) and one at Gardermoen, Norway (outside the EU). The logistics centre in Örebro, which is the largest site among the two, serves Sweden, Finland, Denmark and Austria. Sven I Hegstad, Pilängen CEO comments:- We are pleased to have completed a good transaction for our investors and are confident that Aberdeen Standard Investments will continue to support XXL’s growth within e-commerce. Aberdeen Standard Investments has acquired all shares in Pilängen, which through its subsidiary is the sole owner of the property. Pilängen was represented by Pangea Property Partners as sell-side adviser and MAQS acted legal adviser. Aberdeen Standard Life was advised by NCAP as buy side adviser and Linklaters acted as legal adviser. For more information, please contact: Sven I Hegstad, CEO Pilängen Logistik AB (publ) (+47 22 01 58 80) About Pilängen Logistik AB (publ) Pilängen Logistik AB (“Pilängen”) was established by Pareto Securities AB in connection with the acquisition of the XXL property in 2015. The XXL property is Pilängen’s only asset and the company has, since the acquisition of the property, been managed by Pareto Business Management AB. |
