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Wihlborgs Fastigheter AB divests properties for SEK394m.

NORDIC BUSINESS REPORT-13 June 2003-Wihlborgs Fastigheter AB divests properties for SEK394m(C)1994-2003 M2 COMMUNICATIONS LTD

Swedish property company Wihlborgs Fastigheter AB said on Thursday (12 June) that it had divested 21 properties in Sweden for a total of SEK394m.

The properties, which included 17 residential properties, three commercial properties and one development property, were sold to private investors, property companies and housing cooperatives, Wihlborgs Fastigheter said.

The transactions resulted in a profit of SEK40m.

"Through these sales we are continuing to reduce the proportion of residential properties in the portfolio," said Erik Paulsson, president and CEO of Wihlborgs Fastigheter.

"This year we have so far sold properties for SEK1.5bn at a total profit of SEK244m, and there is still great interest in business amongst property investors in Sweden," Erik Paulsson added.

One Swedish krona (SEK) is worth approximately 0.08 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Jun 13, 2003
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