Three transactions that contribute to strategic streamlining

Fabege has signed an agreement with Peab regarding a transaction in three parts.

Fabege is to acquire the Nationalarenan 5 property in Arenastaden. The property contains about 850 garage spaces. The purchase consideration amounts to SEK 217m.

Fabege is selling a section of the Söderbymalm 3:405 property, in Haninge, to Peab, who intends to convert the property into housing. The purchase consideration totals SEK 30m and will generate no earnings effect. The property currently has no yield.

At the same time, the leasehold Glädjen 13, Stadshagen, is being sold to Peab for a purchase consideration of SEK 105m. The leasehold is granted for housing purposes and is currently undeveloped. After tax profit amounting to SEK 20m will be recognised in the third quarter. The leasehold currently has no yield.

The total of these transactions will generate a net investment of SEK 82m.

“These transactions are part of our continued strategic streamlining,” says Klaus Hansen Vikström, Business Development Manager at Fabege. “The properties being sold are outside our prioritised areas and generate no cash flow today. At the same time, we have a need for more parking space at Arenastaden and the acquisition of the garage will provide us with a good continuous return on investment.”

Fabege AB (publ)

9 Jul 2013 8:00 AM

For more information

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
Klaus Hansen Vikström, Business Development Manager, tel +46 (0)8-555 148 74, +46 (0)70-239 34 81

 

This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 08:00 am CET on 9 July 2013.