On 22 May 2006, Citycon announced the signing of an agreement to acquire all shares in Stenungs Torg Fastighets AB, the majority holder of the StenungsTorg shopping center located in the Stenungsund municipality north of Gothenburg. Closing of such transaction took place last week.
The debt-free purchase price of the shares is approximately €41.9 million and the net yield on the purchase price on the transaction date 6.5 per cent. Citycon has also agreed on the development of the shopping center with the shopping center's minority holder KF Fastigheter AB.
Source: Citycon Oyj