CLS Holdings plc has disposed of its only remaining investment property in Sweden. The 418,800ft² (38,900m²) mixed-use office, educational, residential, leisure and medical complex Vänerparken, Vänersborg has been sold to Bengt Linden AB for SEK590m (€63.8m).
In a separate transaction, CLS has redeemed at par its SEK300m (€32.4m) bond due 2016. The bond, which was issued in April 2011, was repaid on maturity on 27 April 2016 from the Company’s cash resources.
Henry Klotz, executive chairman of CLS Holdings, commented: “We are delighted to have completed on the sale of Vänerparken following a number of lease renewals in 2015. The repayment of our Swedish bond is a natural consequence of selling our only investment property in Sweden.”
