Scandic sells four independent restaurants.

Scandic sells four independent restaurants. Scandic has, today, signed agreements for the sale of the four independent restaurants that were included in the acquisition of Provobis Hotel & Restauranger. The four restaurants are the City Hall's and Skansen's restaurants in Stockholm, and Rådhuskällaren and Amiralen/Moriskan in Malmö, which had a combined turnover of SEK 109 million in 1999. The sale is in line with Scandic's strategy of being a dedicated hotel operator. The new owner of the restaurants is, via companies, Uwe Löffler, former President of Provobis, and the takeover of the purchased operations will be effected immediately. The sale will generate a capital gain, which will be used to reduce the goodwill created through Scandic's acquisition of Provobis. Contact persons: Fredrik Sandelin, Executive Vice President & CFO, Scandic Hotels, tel: +46 8 517 351 21 Uwe Löffler, tel.+46-708 11 49 72 Scandic Hotels AB is the leading hotel operator in the Nordic region, with 155 hotels in 10 countries. Scandic's strategy is to be a dedicated hotel operator. Its business mission is "to offer many people the highest value for money when staying in its hotels, during work and leisure". Scandic Hotel AB (publ) Box 6197, SE-102 33 Stockholm, Sweden Telephone +46 8 517 350 00. Telefax +46 8 517 352 70 E-mail: Internet: Corporate reg, no. 556299-1009 ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: