STOCKHOLM, Sweden, Dec. 22, 2003 (PRIMEZONE) -- Wihlborgs:
Sales in Stockholm and Malmo
Wihlborgs has sold 23 properties in Stockholm and 1 in Malmo for SEK 510 million, at a total profit of SEK 40 million. The profit will be included in the result for the fourth quarter of 2003.
20 of the properties, 19 of which are in Stockholm and 1 in Malmo, have been sold to newly formed housing cooperatives.
"The sale is in line with our strategy of reducing the number of residential properties in our portfolio," says Erik Paulsson, president and CEO of Wihlborgs Fastigheter.
"During 2003 we have sold both residential and commercial properties for a total of SEK 5.5 billion, at a total profit of SEK 740 million."
Declaration of intent regarding sale of four properties
Wihlborgs has signed a declaration of intent regarding sale of 4 properties to Klovern AB (publ). The purchase price is SEK 120 million. The sale is being recorded during the first quarter of 2004, and will not have any effect on the result. The properties are situated in Ornskoldsvik, Norrkoping and Orebro.
Klovern acquires promissory note from Wihlborgs
During 2002 Klovern AB (publ) acquired a large property stock from Wihlborgs Fastigheter. In conjunction with the acquisition a promissory note for approximately SEK 190 million was issued. The board of Klovern AB will be proposing a special general meeting at Klovern that during the first quarter of 2004 the promissory note be acquired from Wihlborgs through a non-cash issue of approximately 12.7 million newly issued Klovern shares. The new issue will be at a share price of SEK 15.
Wihlborgs Fastigheter AB (publ)
For further information:
Erik Paulsson, President and CEO, Tel.: +46 (0)8-555 148 18, +46 (0)733-87 18 18
Olle Knaust, deputy CEO and CFO, 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
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