Please find below a press release from Klépierre subsidiary Steen & Strøm about the sale of five Swedish shopping centers for MSEK 3.250 (MEUR 357) published today.
Oslo, June 5th, 2014
STEEN & STRØM SELLS FIVE SWEDISH SHOPPING CENTRES
FOR MSEK 3.250
Steen & Strøm has today entered into an agreement on the sale of five shopping centres located in Sweden - Familia (Hyllinge, 15,769 sqm[1]), Etage (Trollhättan, 16,604 sqm), Mirum (Norrköping, 39,122 sqm), MittiCity (Karlstad 16,010 sqm) and Sollentuna Centrum (Stockholm, 35,713 sqm). The property value for the transaction is MSEK 3.250
These centers are being acquired by a subsidiary of Olav Thon Eiendomsselskap ASA, which is part of the Olav Thon Group (Norway's largest private property owner).
This portfolio disposal is linked to Steen & Strøm's strategy to strengthen the financial position of the group, and releases capital for the future targeted development projects that are planned to be realized in Norway, Sweden and Denmark in the coming years.
The agreement is not subject to any conditions, and the closing will take place in the beginning of July.
Leimdörfer has served as sole financial advisor to Steen & Ström.
For further information, please contact: CFO/Managing Director Bjørn Tjaum, Steen & Strøm AS,+47 97080185, bjorn.tjaum@steenstrom.com or Country Manager Wilner Anderson, +46 706088080, wilner.anderson@steenstrom.com.
About Steen & Strøm:
Steen & Strøm, Scandinavia's leading shopping center company, operates 34 shopping centers in Norway, Sweden and Denmark. Steen & Strøm is owned by the French based European shopping center REIT Klépierre (56%) and the Dutch pension Fund APG (44%).
About Klépierre
A leading shopping center property company in Europe, Klépierre portfolio is valued at 14.1 billion euros on December 31, 2013 and essentially comprises large shopping centers in 13 countries of Continental Europe. Klépierre is a French REIT (SIIC) listed on Euronext ParisTM.
