Brief: Selvaag To Refine Its Housing Development Business And Pay Extraordinary Dividend

Selvaag Bolig ASA

18/11/2019 06:11

Nov 18 (Reuters) - Selvaag Bolig ASA  SBOO.OL :
    * : SELVAAG BOLIG AIMS TO REFINE ITS HOUSING DEVELOPMENT
BUSINESS
AND PAY AN EXTRAORDINARY DIVIDEND EXCEEDING NOK 2 BILLION
    * WILL PROPOSE TO GENERAL MEETING THAT IT SELLS LARGE PARTS
OF ITS
LAND BANK TO URBAN PROPERTY.
    * COMPANIES WILL BECOME LONG-TERM AND STRATEGIC PARTNERS
    * TRANSACTION IS WORTH NOK 3.4 BILLION
    * ABOUT NOK 2 BILLION WILL BE PAID AS AN EXTRAORDINARY
DIVIDEND,
CORRESPONDING TO NOK 22.00 PER SHARE.
    * TRANSACTION WILL MAKE IT POSSIBLE TO REFINE COMPANY'S CORE
BUSINESS AND MAKE VALUE OF ITS ASSETS VISIBLE.
    * CFO SVERRE MOLVIK SAYS THAT TRANSACTION WILL SUBSTANTIALLY
REDUCE AMOUNT OF CAPITAL TIED UP IN COMPANY
    * WHEN TRANSACTION HAS BEEN IMPLEMENTED, WE'LL ALSO PAY AN
EXTRAORDINARY DIVIDEND OF NOK 22.00 PER SHARE

Source text for Eikon:  ID:nWkr1VymBW 
Further company coverage:  SBOO.OL 

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