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Citycon Continues to Dispose Residential Properties in Sweden

CITYCON OYJ Investor News 16 May 2012 at 15.45 hrs

Citycon has agreed to sell all the shares in Citycon Jakobsberg Bostäder 3 AB for SEK 90.0 million (approx. EUR 10.0 million) to Lärjungen Lägenheter 18 AB owned by Akelius Lägenheter AB. The company to be sold owns 129 apartments in Jakobsbergs Centrum in the municipality of Järfälla in Sweden. The aggregate gross leasable area of the apartments is approximately 9,800 square meters. The closing of the transaction is estimated to take place in July 2012.

Citycon will recognize a gain on sale of approximately EUR 2.9 million on the transaction.

The divestment is part of Citycon’s strategy to recycle and focus capital more strongly on the company’s core business.

Helsinki, 16 May 2012

CITYCON OYJ

For further details, please contact:

Johan Elfstadius
Vice President, Swedish Operations
Tel.: +46 72 530 99 33
johan.elfstadius@citycon.com
 

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