Bilia's board of directors has decided to evaluate the future ownership situation for Bilia's real estate portfolio and to draw up a proposal for either a stock market listing or the sale of these real estate holdings.
The aim is to publish the results of this process in the report on the 2005 financial year, which is due to be published on 7 February 2006, at the very latest. Any decision to distribute these real estate holdings to Bilia's shareholders will be made at the AGM on 19 April 2006.
Commenting on this proposal, Bilia's managing director, Jan Pettersson, says,
“The background to this proposal is to render transparent the valuation of the properties and the car business separately. For example, a division facilitates the opportunity of optimising the capital structure of the car business and properties, which creates prerequisites for a better analysis of each business. What is more, the shareholders have greater freedom of choice – from now on they can choose to be owners of both a car and property business, or merely of one of the lines of business. We have been given indications that the value of the properties clearly exceeds the valuation from the last year-end of SEK 1,700 millions.”
Göteborg, 22 June 2005
Bilia AB (publ)
For further information, please do not hesitate to contact Bilia's managing director and CEO, Jan Pettersson, or Bilia's CFO, Gunnar Blomkvist, on +46 31 709 55 00.
