Kungsleden’s sale of Nordic Modular Group has been completed (SE)

Kungsleden’s divestment of 65% of Nordic Modular Group to Inter IKEA Investments has been completed after approval from the Swedish Competition Authority in accordance with the conditions communicated on November 14, 2014.
With the transaction Kungsleden will release net funds of approximately SEK700 mln (€73 mln).
The released funds will be used to purchase properties in accordance with Kungsleden’s strategy, which allows a purchase capacity of approximately SEK1.8 billion (€189 mln) with an assumed LTV ratio of around 60%.
Source: Kungsleden

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