STOCKHOLM, Sweden, Dec. 12, 2002 (PRIMEZONE) -- In a SEK 240 million exchange transaction with Peab, Wihlborgs acquires the remaining 25 percent of the shares in Klara Zenit and chiefly sells building rights. The transaction is being performed on December 16. The transaction's effect on Wihlborgs' balance sheet and profit/loss statement will be negligible. Accounting of minority shareholding and minority share will cease as a result of the transaction.
"The exchange transaction means we now own the whole of Klara Zenit, whose project part will be completed by the beginning of 2003. The sale of building rights for homes is in line with our strategy of focusing on commercial premises," commented Mats Qviberg, chairman of the board, Wihlborgs Fastigheter AB.
For the property transaction, the property Klara Zenit/Blamannen 20 has been valued at SEK 2,930 million. The property Klara Zenit, at Drottninggatan/Master Samuelsgatan in central Stockholm, has a total lettable area of 65,000 m2. The property is fully let.
Wihlborgs Fastigheter AB (publ) Mats Qviberg, chairman of the board Tel.: +46 (0)8-402 33 01 Olle Knaust, deputy CEO 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 Properties sold Property Municipality Region Category Area Berga 11:23 Osteraker Stockholm Building rt 1,257 Kalvsvik 5:7 Haninge Stockholm Industry 1,770 Borret 15 Helsingborg Oresund Building rt 2,376 Arholma 1 Helsingborg Oresund Building rt 2,726 Granspiran 2 Malmo Oresund Industry 1,694 Bramaregarden 13:2 Gothenburg Other Land - Tingstadsvassen 34:1 Gothenburg Other Land - Jarven 3 Norrkoping Other Building rt 9,085 Kvarngardet 58:1 Uppsala Other Building rt 2,430 Hammarby Gard, part of Stockholm Stockholm Building rt 10,740
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