UK's Tritax EuroBox gains after sale of Gothenburg asset

Tritax EuroBox

14/05/2024 13:53

** Shares of Tritax EuroBox Plc  EBOX.L  rise as much as
4.6% to 61.7p, stock among top pct gainers on FTSE 250  .FTMC 
index
    ** EBOX, which invests in and manages a well-diversified
portfolio of Continental European logistics real estate, sells a
warehouse asset in Gothenburg, Sweden, for SEK 385 mln ($35.5
mln) to a pan-European real estate investment manager
    ** EBOX says the sale price of the 28,900 sqm building is
broadly in line with valuation as of Sept. 30, 2023
    ** Co, which last May outlined its intention to undertake
asset disposals of at least 150 mln euros ($161.9 mln) over
12-18 months, says proceeds from the sale to be mainly used to
reduce net debt
    ** Currently stock up 4.2%, taking YTD gains to ~3%

($1 = 0.9263 euros)
($1 = 10.8591 Swedish crowns)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))