Wihlborgs buys nine properties from Diligentia for SEK 2.4 billion
Wihlborgs buys nine properties from Diligentia for SEK 2.4 billion Wihlborgs today signed a contract with Diligentia AB regarding the acquisition of nine properties in Stockholm and Solna for SEK 2,425 million. Wihlborgs is taking possession of the properties on 1 September 2004. Four of the properties are located in Stockholm's Norra Station area, and the others in Solna (see map). The total lettable area is about 147,000 m2. The biggest tenants are If and SPP (rental contracts until 2009 and 2011 respectively), who represent about 35 per cent of the rental income. The rental value is SEK 272 million including a five-year rental guarantee of about SEK 40 million issued annually by the seller. As a result of this deal Wihlborgs' annual profit will increase by an estimated SEK 100 million, equivalent to SEK 1.22 per share after tax. "As a result of the deal with Diligentia we are acquiring properties that are well positioned in areas where there are to be very interesting developments, not least in the Norra Station areas," says Erik Paulsson, President and CEO of Wihlborgs Fastigheter. "The properties are well suited to our property stock, and we are reckoning on being able to greatly reduce vacancy in the acquired stock in pace with the integration of the properties into Wihlborgs' administrative organisation," Erik Paulsson continues. Wihlborgs Fastigheter AB (publ) For further information: Erik Paulsson, President and CEO, Tel.: +46 (0)8-555 148 18, +46 (0)733-87 18 18 Olle Knaust, deputy CEO and CFO, Tel.: +46 (0)8-555 148 10, +46 (0)733-87 18 10 Mats Berg, communications manager, Tel.: +46 (0)8-555 148 20, +46 (0)733-87 18 20 Appendix: property list + map (Removed graphics) Appendix to press release 24.06.2004 (Removed graphics) ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/24/20040624BIT21220/wkr0001.pdf