TECHNOPOLIS PLC STOCK EXCHANGE RELEASE July 1, 2016 at 2:30 p.m.
Technopolis Closed Gothenburg Acquisition
Technopolis has today completed the acquisition of an office campus in the Gårda district of Gothenburg in Sweden. The company announced the signing of the deal on May 24, 2016.
The debt-free purchase price was SEK 1,177 (ca. EUR 126.6) million. In addition, Technopolis agreed with the seller on an additional purchase price of approximately SEK 20 (EUR 2.1) million based on the realization of expansion potential on the campus. The net initial yield for the campus is expected to be 5.0% and the stabilized yield 6.0%. The deal includes an NOI guarantee until 31 December 2017.
The Gårda campus will be reported as part of Technopolis’ Scandinavia segment. The impact of the acquisition is expected to be approximately +EUR 3.8 million on net sales and approximately +EUR 3.1 million on EBITDA in 2016. The company’ s future outlook remains unchanged in the aftermath of the deal.
In this release the Company has used a foreign exchange rate of EUR/SEK 9.30 which also applies to the net sales and EBITDA estimates.
For further information about the campus please visit: http://www.technopolis.fi/en/garda/
Technopolis Plc
Additional information:
Keith Silverang
CEO
Tel. +358 40 566 7785
Otso Halsti
Group Investment Officer
Tel. +358 40 763 8083
Technopolis provides the best addresses for success in five countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 20 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,700 companies and their 47,000 employees in Finland, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on Nasdaq Helsinki.