Catena continues to streamline its portfolio – sells properties in Norway for approximately NOK 480 million

Catena has sold its property portfolio in Norway, comprising four properties in the Oslo region.

The properties were sold for approximately NOK 480 million (corresponding to about SEK 575 million), 8 per cent above the appraisal value on 31 December 2009. The capital gain will amount to about SEK 35 million or SEK 3.05 per share.

The properties have a combined floor space of 32,200 square metres and account for 23 per cent of Catena’s total property portfolio.

The sale will be recognised in the company’s accounts in the first quarter of 2010 and will be implemented as a corporate transaction. Transfer of the properties is planned for 22 April 2010.

The sale was previously announced when negotiations began in February 2010.

“The divestment will result in an increased focus on the Swedish operations, which, following the sale, will account for 94 per cent of Catena’s properties. This transaction will strengthen Catena’s financial position and provide us with an opportunity to further develop our property portfolio,” says Peter Hallgren, President of Catena.

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