Keops A/S is selling the Norwegian part of the Nordic Light portfolio at NOK 660 million (approx. € 77 million). The acquirer is a company in the Norwegian group, Otium Gruppen, and acquisition of the properties will be carried out on 21 August 2007. The total Nordic Light portfolio consists of a total of approx. 151,000 m² allocated into 37 office properties in Norway, Sweden and Finland.
The sale of the Norwegian part concerns 20 properties constituting 62,000 m².
The Nordic Light portfolio was acquired in 2006 for the purpose of mediation. As announced
in Keops' Interim Report from 23 May 2007, it was subsequently decided to hold the Finish
properties in Keops' own property portfolio for the time being, while the Norwegian and
Swedish properties in the Nordic Light portfolio were being sold as a part of the Group's
ordinary activity. With this Notice, the sale of the Norwegian properties has now been
realised.
The sale has a minor positive impact on Keops' profit, as the sales proceeds less sales
related costs marginally exceed the carrying amount at 31 March 2007.
Keops' expectations of the future
Accordingly, the sale will give no reason to adjust the most recently reported expectations of
Keops Group's total consolidated profit before tax for this financial year. The expectations of
profit before tax for 2006/07 accordingly constitute DKK 350-450 million including value
adjustments of properties and debt.
Source: Keops
