Kungsleden AB (publ) has signed an agreement with Mälarenergi AB and its subsidiary Mälarenergi Elnät AB (”Mälarenergi” below) regarding transfer of installations for power, cooling and water/sewage within Kungsledens properties at Finnslätten in Västerås.
The deal is conditional that line rights are granted to Mälarenergi and that some property formation is made, which is estimated to be gradual over the next one or two years. At the same rate as the conditions are met, Kungsleden will leave the installations.
The purchase price amounts to just above SEK 30 million before transaction costs. The divested assets have low book values, meaning a capital gain of at least SEK 20 million can be expected and will be recognized as the installations are vacated.
Kungsledens Head of Real Estate Mälardalen, Mats Eriksson says:
”Kungsleden is rapidly building its business into active management and development of commercial real estate in Swedish largest cities including Västerås. For historical reasons, we have extensive facilities for electricity distribution, cooling and water/sewage at Finnslätten in Västerås. In order to focus on our core business, we now transfer large parts of these facilities to Mälarenergi. Mälarenergi is a highly professional and well-known actor of electricity distribution, production and distribution of cooling and water/sewage. Mälarenergi has the long-term perspective and the knowledge required for the facilities to be managed and further developed in the best way.”
Jan Andhagen, Vice President and Head of Business Development at Mälarenergi comments:
”The facilities we now acquire from Kungsleden complement our existing facilities in Västerås well. It improves our ability to run and develop long-term good supply and customized solutions with electricity and cooling, as well as water and sewage activities for existing and future customers in Finnslätten and nearby.”
For more information, please contact:
Mats Eriksson, Head of Real Estate Mälardalen, Kungsleden AB (publ), +46 (0)21-40 44 85 | +46 (0)70-588 79 99
Jan Andhagen, Vice President and Head of Business Development, Mälarenergi, +46 (0)73-940 50 30
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
The information was provided for public release on July 16, 2018 at 7:00 a.m.
Kungsleden is a long term property-owner that provides attractive, functional premises that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden is listed on NASDAQ Nordic Large Cap.