STOCKHOLM, Sweden, May 16, 2002 (PRIMEZONE) -- Wihlborgs is continuing to concentrate its business and is selling 60 properties in 37 locations to Adcore for SEK 1,256 million. The sale, involving a total of around 250,000 m squared of lettable area, covers the greater part of Wihlborgs' property stock outside the prioritised markets of the Stockholm and Oresund regions. The majority of the properties sold formed part of Postfastigheter, which was acquired by Wihlborgs in December 2001. It is estimated the sale will be completed by August 2002, and the profit will amount to SEK 60 million. The transaction is conditional upon a decision regarding a new share issue at a special general meeting in Adcore on 18 June 2002. Wihlborgs is guaranteeing SEK 100 million of a total SEK 253 million in the new share issue.
See press release from Adcore for more details regarding the transaction.
"The sale means we are speeding up the implementation of our strategic plan regarding concentration on Stockholm and Oresund," commented Erik Paulsson, President and CEO of Wihlborgs Fastigheter AB.
"We can now put further energy into improving the property stock and rationalizing the administration on our prioritized markets," continues Erik Paulsson.
After the sale, Wihlborgs' property stock will comprise a total of 575 properties 228 of them in the Stockholm region, 329 in the Oresund region and 18 in other locations. 54% of the rental value will be in the Stockholm region, 44% in the Oresund region and 2% in other locations.(1)
On the basis of the current rent, property and administrative expenses, financial items, the profit from the property sale, and tax, it is estimated the sale will affect Wihlborgs' net profit for 2002 by SEK 15 million or SEK 0.05/share. As a result of the sale, the balance sheet total will decrease, which as of 31 March 2002 means an increase in equity/assets ratio of 0.6 % to 24.8 %.
In view of this transaction Adcore is holding a press conference today at 12.00 am in Konserthuset, Kungsgatan 43, Stockholm (Stockholm concert hall), in which Wihlborgs' CEO Erik Paulsson will be taking part.
Appendix: List of properties sold.
For further information: Erik Paulsson, President and CEO tel +46 8-555 148 18/+46 733-87 18 18 Olle Knaust, deputy CEO tel +46 8-555 148 10/+46 733-87 18 10 Mats Berg, communications manager tel +46 8-555 148 20/ +46 733- 87 18 20
(1) Based on changes with regard to the property stock as of 31 March 2002.
Properties sold
Appendix to press release from Wihlborgs Fastigheter AB 16.05.2002
Region Municipality Property Category Area,
sqm
Other ALINGSAS TYGVAVAREN 4 Office 1,170
OTHER BOLLNAS GARDET 6:4 Ind/Wa 2,248
reh
OTHER ENKOPING S:T ILIAN 23:4 Ind/Wa 1,692
reh
OTHER ESKILSTUNA ESKILSHEM 1:8 Retail 3,540
OTHER ESKILSTUNA NOTKNAPPAREN 24 Office 2,264
OTHER ESKILSTUNA VALHALLA 2:19 Office 1,872
OTHER ESKILSTUNA VAGSKALEN 24 Other 3,437
OTHER ESKILSTUNA VALPEN 3 Ind/Wa 4,134
reh
OTHER FALUN HATTMAKAREN 15 Office 2,704
OTHER FALUN KARDMAKAREN 21 Reside 6,278
nt.
OTHER FALUN SPARBANKEN 7 Office 2,804
OTHER FALUN HATTMAKAREN 16 Office 4,064
OTHER GAVLE BRYNAS 12:1 Ind/Wa 5,934
reh
OTHER HALMSTAD KILOT 1 Ind/Wa 6,959
reh
OTHER HEBY KAPELLET 23 Retail 571
OTHER HARNOSAND TULLEN 10 Office 4,607
OTHER KALMAR FREDRIKSDAL 1 Ind/Wa 3,498
reh
OTHER KALMAR GULDFISKEN 2 Office 3,029
OTHER KARLSBORG POSTILJONEN 1 & 2 Retail 1,216
OTHER KARLSKRONA INGENJOREN 7 Ind/Wa 1,818
reh
OTHER KARLSTAD GANGJARNET 2 Ind/Wa 3,536
reh
OTHER KARLSTAD TORNADON 2 Ind/Wa 12,804
reh
OTHER KARLSTAD SKEPPAREN 15 Office 22,371
OTHER KARLSTAD MONITORN 9 Office 3,409
OTHER KATRINEHOLM NEJLIKAN 13 Retail 2,524
OTHER KRISTIANSTAD KRISTIANSTAD 5:56 Ind/Wa 2,154
reh
OTHER KRISTINEHAMN UROXEN 14 Ind/Wa 3,262
reh
OTHER KOPING DROTTEN 2 Office 3,601
OTHER LINKOPING BREVDUVAN 17 Office 7,753
OTHER LULEA DJURET 3 Ind/Wa 6,739
reh
OTHER LULEA RATTAN 18 Office 4,319
OTHER LYCKSELE STADSHUSET 7 Retail 2,075
OTHER MARK KYRKANGEN 9 Office 653
OTHER NORRTALJE PELIKANEN 8 Office 5,712
OTHER NORRTALJE JARNLODET 15 Office 3,552
OTHER NYKOPING BAGAREN 20 Office 1,932
OTHER NYKOPING SKOLDEN 2 Office 2,027
OTHER NYKOPING SAVEN 4 Ind/Wa 1,853
reh
OTHER NASSJO BREVET 1 Ind/Wa 4,561
reh
OTHER NASSJO POSTEN 1 Office 3,153
OTHER OXELOSUND BJORKEN 11 Reside 3,510
nt.
OTHER SANDVIKEN SATERJANTAN 3 Ind/Wa 933
reh
OTHER SUNDSVALL BORGMASTAREN 10 Office 5,161
OTHER TORSBY VASSERUD 3:13 Ind/Wa 3,334
reh
OTHER UDDEVALLA RAN 6 Ind/Wa 2,482
reh
OTHER UMEA STIGBYGELN 2 Ind/Wa 3,829
reh
OTHER UMEA VALE 6 Retail 4,420
OTHER UPPSALA BOLANDERNA 21:4 Office 8,541
OTHER UPPSALA BOLANDERNA 21:5 Retail 3,384
OTHER UPPSALA KVARNGARDET 30:2 Retail 4,107
OTHER UPPSALA KUNGSANGEN 10:1 & Office 8,649
10:2
OTHER VETLANDA LEJONET 14 Reside 1,880
nt.
OTHER VARNAMO TRE LILJOR 16 Office 1,258
OTHER VASTERVIK BRYGGAREN 18 Retail 2,504
OTHER VASTERAS KOL 13 Office 4,434
OTHER OREBRO KITTELN 11 Retail 12,843
OTHER OREBRO OLAUS PETRI 3:119 Ind/Wa 8,809
reh
OTHER OSTERSUND SNACKAN 25 Ind/Wa 3,425
reh
245,33
0
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