STOCKHOLM, Sweden, Jan. 15, 2004 (PRIMEZONE) -- TeliaSonera has today signed an agreement to sell Telia Finans AB to De Lage Landen International B.V. for MSEK approximately 1.2 billion SEK.
Telia Finans is the leading leasing company in the small and medium ticket leasing segments in Scandinavia. Telia Finans has 140 employees.
"We are very pleased to have successfully sold Telia Finans to De Lange Landen. The divestment represents yet another step in TeliaSonera's strategy to focus on its core business, says Kim Ignatius, CFO of TeliaSonera AB. "The transaction further strengthens our already very strong financial position."
De Lage Landen International B.V., headquartered in Eindhoven (the Netherlands), is an international provider of high-quality asset financing products. It is a subsidiary of the Dutch Rabobank Group that is AAA-rated by the major rating agencies Moody's and Standard & Poor's.
The disposal is expected to generate a capital gain of approximately 0.5 billion SEK and a positive cash flow of approximately 6.2 billion SEK, of which 1.2 billion SEK consists of the purchase price and 5.0 billion SEK of reduction of TeliaSonera's debt.
Completion of the sale is conditional upon approval by the Swedish Financial Supervisory Authority, which is expected within the first quarter of 2004.
For further information journalists can contact: TeliaSonera's Press Service, +46-8-713 58 30
Forward-Looking Statements
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.
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