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SAS divests six properties to Swedavia.

TELECOMWORLDWIRE-April 30, 2012-SAS divests six properties to Swedavia(C)1994-2012 M2 COMMUNICATIONS

SAS Group on Monday announced that it has signed an agreement with Swedavia to divest six properties at Arlanda in Stockholm, Landvetter in Gothenburg and Sturup in Malmo.

The six properties are being divested at a market value of SEK1,775m and this is happening as a step in the company's overall strategy to focus on its core business.

The transaction is expected to generate a positive effect of SEK450m and capital gains of around SEK350m, which will be reported by the company during the second quarter of 2012.

SAS also said that it has signed a lease agreement with Swedavia. The annual cost for the lease agreement is said to be neutral when compared with ownership of the properties.

The properties are made up of mainly hangers, workshops, warehouses and offices. The sales process was initiated by SAS last year and was implemented in international competition.

(USD1 = SEK6.74)

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Date:Apr 30, 2012
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