Citycon has signed an agreement to acquire the entire share capital of Stenungs Torg Fastighets AB, the majority holder of the Stenungs Torg shopping center located in the Stenungsund municipality north of Gothenburg. The debt-free purchase price of the shares is approximately €41.9 million (SEK 393 million) and the net yield on the purchase price on the transaction date 6.5%.
Citycon has also agreed on the development of the shopping center with the shopping center's minority holder KF Fastigheter AB. It is expected that the transaction will be finalised early September once the necessary approvals by the municipality of Stenungsund are available.
Source: Citycon
