GN has entered into an agreement to sell one of three buildings at its Ballerup
headquarters to C.W. Obel at a price of DKK 153 million. The transaction will
release net cash of approximately DKK 150 million, expectedly in the third
quarter of 2009. The sale will not have any material impact on the income
statement and will not have any material tax consequences.
Following the significant restructuring initiatives in both GN Netcom and GN
ReSound which included a considerable reduction of the headcount at the
corporate headquarters in Denmark, GN has decided to lease a vacant building to
Fujitsu A/S and subsequently sell it to C.W. Obel.
Closing of the agreement is pending customary authority approval to carve out
the building from the remaining GN property. GN expects to receive the approval
from the authorities within a month and to subsequently register the change
with the National Survey and Cadastre no later than during the third quarter of
2009.
For further information, please contact:
Jens Bille Bergholdt
VP, IR & Communications and Finance
GN Store Nord A/S
Tel.: +45 45 75 02 70
