Brief: Bonava AB Write-Down Of Net Asset Value Of Operations In St. Petersburg In Q4 2022

Bonava AB (publ)

24/01/2023 18:02

Jan 24 (Reuters) - Bonava AB (publ)  BONAVb.ST :
    * WRITE-DOWN OF NET ASSET VALUE OF OPERATIONS IN ST.
PETERSBURG IN
Q4 2022
    * DECISION TO LEAVE RUSSIA STANDS FIRM AND PROCESS OF
SELLING
BUSINESS HAS BEEN RESTARTED
    * WRITE-DOWN OF NET ASSETS AMOUNTS TO SEK 0.9 BILLION
CALCULATED
AT DECEMBER CLOSING EXCHANGE RATES
    * WRITE DOWN DOES NOT HAVE ANY CASH-FLOW EFFECT AND BONAVA
IS
STILL FULFILLING ITS LOAN COVENANTS
    * BONAVA AB-INTENDED BUYER OF OPERATIONS G-GROUP HAS NOT
RECEIVED
REQUIRED APPROVALS FROM RUSSIAN AUTHORITIES WHY SALES AGREEMENT
HAS BEEN CANCELLED
    * AFTER WRITE-DOWN OF NET ASSETS EXPOSURE AGAINST RUSSIA IS
DEEMED
LIMITED

Source text for Eikon:  ID:nWkr1NdX8M 
Further company coverage:  BONAVb.ST 
 ((Reuters.Briefs@thomsonreuters.com;))