Brief: Investor Divests Grand Group And The Grand Hôtel Property To FAM

Investor AB

19/04/2021 07:18

April 19 (Reuters) - Investor AB  INVEb.ST :
    * DIVESTMENT OF GRAND GROUP AND THE GRAND HÔTEL PROPERTY TO
FAM
    * DIVESTMENT OF GRAND GROUP AND THE GRAND HÔTEL PROPERTY TO
FAM
    * TRANSACTION INCLUDES HOTEL OPERATIONS GRAND HÔTEL, LYDMAR
HOTEL
AND SPARROW HOTEL, ALL LOCATED IN STOCKHOLM, AS WELL AS GRAND
HÔTEL PROPERTY.
    * TOTAL TRANSACTION VALUE AMOUNTS TO SEK 3.9BN, OF WHICH
APPROXIMATELY SEK 0.3BN FOR GRAND GROUP AND APPROXIMATELY SEK
3.6BN FOR GRAND HÔTEL PROPERTY
    * NET PROCEEDS FROM TRANSACTION ARE APPROXIMATELY SEK 1.5BN
FOLLOWING VECTURA DEBT AMORTIZATION
    * TRANSACTION IS EXPECTED TO BE COMPLETED, SUBJECT TO
REGULATORY
APPROVAL, DURING Q2 2021.
    * DIVESTMENT DONE BY PATRICIA INDUSTRIES, A PART OF INVESTOR
AB,
AND ITS SUBSIDIARY VECTURA

Source text for Eikon:  ID:nWkr4NWD0y 
Further company coverage:  INVEb.ST 

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