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Klövern acquires properties from Byggvesta in Linköping

2004-12-22

The properties consist of approximately 68,000 sq.m. of commercial space and approximately 10,000 sq.m. housing with a rental value of SEK 86 million. Thirteen of the properties are located in Linköping and the other three in Motala, Tranås and Vadstena. The seller is Byggvesta AB. The occupancy ratio is approximately 89 per cent and the yield around 7.3 per cent. After the acquisition, Klövern’s lettable area in Linköping will be approximately 120,000 sq.m.
 
The properties will be taken possession of on 1 March 2005. The acquisition is being financed by a directed share issue equivalent to SEK 120 million, loan financing of SEK 540 million and internal funds. The issue consists of 6.6 million new shares at a price of SEK 18.40. Owing to the acquisition Klövern will summon an extraordinary shareholders’ meeting, which will take place in Stockholm 20 January 2005, at 2.00 pm.

“The portfolio includes centrally located properties of high quality and development potential. This acquisition will reinforce our market position in Linköping. We’re achieving our goal of having geographic and functional units with satisfactory volume in Linköping as well”, says Klövern’s CEO Gustaf Hermelin. “We have already achieved the same goal in Karlstad, Norrköping, Nyköping, Västerås and Örebro.”
 
Nyköping, 22 December 2004                  
 
Klövern AB (publ)
 
 
For further information, please contact:
Gustaf Hermelin, CEO, tel +46-(0)155-44 33 10, +46-(0)70-560 00 00 gustaf.hermelin@klovern.se
Anders Lundquist, CFO, tel +46-(0)155-44 33 20, +46-(0)70-528 43 33 anders.lundquist@klovern.se
Britt-Marie Einar, CIO, tel +46-(0)155-44 33 12, +46-(0)70-224 29 35 britt-marie.einar@klovern.se

Latest modified: 2004-12-22