Brief: JM Sells Investment Properties In Bromma, Stockholm

JM AB

28/09/2023 09:04

Sept 28 (Reuters) - JM AB  JM.ST :
    * JM SELLING INVESTMENT PROPERTIES IN BROMMA, STOCKHOLM
    * TRANSACTION AMOUNTS TO SEK 283M
    * TRANSACTION WILL TAKE FORM OF A CORPORATE SALE WITH A
TOTAL
UNDERLYING PROPERTY VALUE OF SEK 283M, RESULTING IN A LOSS OF
SEK -15M, WHICH WILL BURDEN JM RESIDENTIAL STOCKHOLM BUSINESS
SEGMENT IN Q3 2023 WITH A CORRESPONDING IMPAIRMENT
    * TRANSFER OF LEGAL TITLE AND PAYMENT WILL OCCUR IN Q4 2023
    * HAD AN ONGOING DIALOGUE WITH CITY OF STOCKHOLM ABOUT
POSSIBILITIES FOR DEVELOPING RESIDENTIAL UNITS IN AREA
    * SINCE ASSESSMENT HAS BEEN MADE THAT NO DEVELOPMENT WILL BE
GRANTED AT BROMMAPLAN IN NEAR FUTURE, JM HAS DECIDED TO SELL
PROPERTIES
    * TRANSACTION RESULTING IN A LOSS OF SEK -15M, WHICH WILL
BURDEN
RESIDENTIAL STOCKHOLM BUSINESS SEGMENT IN Q3

Source text for Eikon:  ID:nWkr1sWDcp 
Further company coverage:  JM.ST 

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