Kungsleden concludes divestment with Riksbyggen, upgrades forecast
On 15 May 2006, listed Swedish property company Kungsleden AB (publ) announced the sale of part of the property designated Lund Klostergården in southern Sweden for SEK 100 m. This transaction was conditional on Kungsleden receiving detailed planning on the property. The property consists of some 30,000 sq.m. of housing development rights. The transaction is now unconditional and can thus be concluded.
The sales price exceeds acquisition value by about SEK 50 m. This amount will be included in Kungsleden’s profit for calculating dividends for 2008.
The transactions executed by Kungsleden in December has also resulted in Kungsleden increasing its forecast profit for calculating dividends for the financial year 2008 from the previous SEK 700 m to over SEK 800 m.
“It’s pleasing to now be able to conclude this deal with satisfactory profits and increase our forecast,” commented Kungsleden’s Chief Executive Thomas Erséus.
Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 23 December 2008 at 09:30 a.m.
For more information, please contact:
Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024
Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565