Brief: Serneke And Balder To Develop Properties In Karlastaden

SERNEKE AB (publ)

14/07/2021 14:01

July 14 (Reuters) - SERNEKE Group AB (publ)  SRNKEb.ST :
    * SERNEKE AND BALDER TO DEVELOP ADDITIONAL PROPERTIES IN
KARLASTADEN
    * BALDER WILL PAY PURCHASE CONSIDERATION THROUGH
INSTALLMENTS
DURING IMPLEMENTATION OF PROJECT.
    * UNDERLYING PROPERTY VALUE IN JOINT VENTURE, OF WHICH
BALDER WILL
ACQUIRE 50 PERCENT, AMOUNTS TO SEK 558 MILLION
    * CONSTRUCTION OF BUILDINGS IN QUESTION IS SCHEDULED TO
COMMENCE
IN 2022 WITH ESTIMATED START OF OCCUPANCY IN 2024.
    * TRANSACTION INCLUDES FUTURE CONTRACTS FOR SERNEKE, WHICH,
DEPENDING ON FUTURE DEVELOPMENT OF PROPERTIES, HAVE AN ORDER
VALUE OF APPROXIMATELY SEK 1.5 BILLION

Source text for Eikon:  ID:nWkr5zlCzX 
Further company coverage:  SRNKEb.ST 

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