Citycon to acquire all the minority shares in three shopping centres in Norway
CITYCON OYJ Investor News 11 November 2015 at 09.15 hrs
Citycon has agreed to acquire the 31% minority stakes in Storbyen and Sjøsiden shopping centres in the Oslo region and Oasen shopping centre in Bergen for an equity consideration of approx. EUR 31 million (approx. NOK 290 million) from 4 minority shareholders. Citycon already owned the 69% majority share in these shopping centres, which were part of the Sektor Gruppen acquisition in July 2015.
“The portfolio is in line with our focus on necessity-based shopping centres in urban locations. Full ownership will allow for more efficient administration and we see value-add potential in all the properties through further asset management initiatives”, says Nils Styf, Citycon’s Chief Investment Officer.
Helsinki, 11 November 2015
For further information, please contact:
Nils Styf, Chief Investment Officer
Tel. +44 733 50 60 39
Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com