(RTTNews) – Swedish real estate company Castellum AB (CWQXF.PK) Tuesday said it is selling 16 properties to Oscar Properties for sale price of around 1.7 billion Swedish kronor.
The net price exceeds the most recent valuation by about 60 million kronor.
The company said the sale resulted in an impairment of goodwill of around 20 million kronor and deferred tax income of approximately 170 million kronor.
Rutger Arnhult, Chairman of the Board of Castellum, said, “The sale is in line with the company’s strategy, and at the same time provides us with a cash injection that further strengthens our financial muscles for the proposed merger with Kungsleden.”
As a partial payment, Castellum will receive a block of shares corresponding to a maximum of 200 million kronor in Oscar Properties, entailing an ownership share of around 10% based on the latest available ownership list.