ukcitymedia news feed

Citycon Sells Shopping Centre Heiane Storsenter in Norway

16/05/18 05:30PM by about : - 0 Comments - 261 words

HELSINKI, May 16, 2018 /PRNewswire/ --

Citycon has signed an agreement to sell a shopping centre in Stord, Norway to an affiliate of Midgard Gruppen AS for a gross asset value of approximately EUR 24 million. The sales price is close to the asset's latest IFRS fair value and will be adjusted according to the contract terms in connection with the closing. The transaction is estimated to close during Q2/2018.

"This divestment reflects Citycon's strategy to focus on urban, grocery-anchored shopping centres in the Nordics. We will use the proceeds from the divestment in development and extension projects as well as to strengthen the balance sheet", says Tom Lisiecki, Chief Development Officer at Citycon.

Espoo, 16 May 2018


Marcel Kokkeel
Chief Executive Officer, Citycon
Tel +358-40-154-6760

Eero Sihvonen
Executive VP and CFO
Tel. +358-50-557-91-37

Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total approximately EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

Citycon has investment-grade credit ratings from Moody's (Baa1) and Standard & Poor's (BBB). Citycon Oyj's share is listed in Nasdaq Helsinki.

This information was brought to you by Cision,c2522400

Plus500 online stock broking

  sharescope charting software

  • Setup a FREE Demo Account with live data.
  • Trade CFD's in Stocks, Commodities, Indices.
  • Forex, Cryptocurrency, Etherium and Bitcoin.
  • Derivatives trading from your mobile with
  • Trailing Stops, Advanced Tools and Features.
  • Represented in over fifty countries in the world.
online stock broking

Add a comment



Security key:



ukcitymedia news feed


ukcitymedia moderates but does not authenicate postings. Users are reminded that shares and all trading instruments by nature do not always prove to be good investments. Readers are reminded to do your own research. delivers UK stock market news, latest shares news, uk financial news, rns news articles, latest business news, latest uk financial news, stockmarket investment news, business news round-ups. director dealings bulletins, stock market reports, share trading articles, latest finance news, broker recommendations, uk city news, latest financial information. does not offer financial advice.