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Catena to receive SEK59m as compensation after release from option agreement with Kilenkrysset.

NORDIC BUSINESS REPORT-September 5, 2019-Catena to receive SEK59m as compensation after release from option agreement with Kilenkrysset

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Property company Catena AB (STO:CATE) announced on Wednesday that Kilenkrysset has released the company from an option agreement regarding rights to acquire logistics land in Staffanstorp.

Reportedly, under an agreement between Catena and Kilenkrysset, Kilenkrysset had provided an option conveying rights for Catena to acquire an area of land in the Municipality of Staffanstorp.

Kilenkrysset now intends to sell the land to another player, which is why it has chosen to redeem the option agreement.

Catena will receive SEK59m as compensation for this redemption, which will be reported in its entirety as a realised change in value in the financial accounts for the third quarter.

Catena develops, owns and manages logistics facilities which supply Scandinavian metropolitan areas.

(EUR1.00=SEK10.73)

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Publication:Nordic Business Report
Date:Sep 5, 2019
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