Atrium Ljungberg’s sale of Farsta Centrum has been approved by the Swedish competition authority.
This deal has a rental value of SEK 310M and more than 100,000sq m letting area, and was conditional on the approval of the Swedish Competition Authority. The Swedish Competition Authority has now issued its approval of the transfer of Farsta Centrum. This means that all the terms and conditions of the deal have been met and the buyer, Stadsrum Fastigheter AB, will take possession on 1 June 2020.
The sale of Farsta Centrum will take place through the sale of a company. The purchase price is based on an underlying property value of SEK 3,979M before deductions for deferred tax. This deal represents a profit after tax of approximately SEK 240M for the Atrium Ljungberg Group; including SEK 75M in realised changes in value, SEK 225M in deferred tax, and SEK 60M for the impairment of goodwill. The earnings will be recognised in the accounts for the second quarter.
