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Victoria Park divests lifestyle property segment.

NORDIC BUSINESS REPORT-February 12, 2018-Victoria Park divests lifestyle property segment

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Property company Victoria Park AB (STO:VICPA) announced on Friday the signing of an agreement to divest its lifestyle property segment to a company operated by the event manager Bengt Martensson and the registered estate agent Angela Kingberg.

This transaction, financial details of which were not available, will take place in company form. No impact is expected on earnings or liquidity.

Also, existing staff employed in the divested company, will be transferred to the purchaser's group. The operations are expected to change hands on 1 March 2018.

The divested business comprises service operations, including a spa facility and a multitude of services adjacent to the lifestyle property. In 2017, Victoria Park completed and divested the final stage of the 325 tenant-owner apartments linked to this service concept.

According to Victoria Park, it will now focus fully on managing and developing its property portfolio, consisting of over 13,000 rental units.

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Publication:Nordic Business Report
Date:Feb 12, 2018
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