Fabege Strengthens Its Cash Position by SEK 2bn

Regulatory News:

Fabege has sold the Ladugårdsgärdet 1:48 property at Värtahamnen and the Hammarby-Smedby 1:457 and 1:458 properties in Upplands Väsby to Fastpartner and sold the Grönlandet Södra 13 property in Norrmalm to a private company.

The Ladugårdsgärdet property comprises approximately 38,000 sqm of lettable area and its largest tenant is the Nasdaq OMX Stockholm. The Hammarby-Smedby property comprises approximately 16,700 sqm of lettable area and its largest tenant is Siemens. The Grönlandet property comprises approximately 8,200 sqm of lettable area and the buyer will use it for proprietary operations.

All of the sales will occur in the form of companies with a total underlying property value of approximately SEK 1,942m and will yield a combined profit of SEK 102m before tax and SEK 271m after tax. The profit will be recognised during the fourth quarter. "We have taken advantage of the favourable transactions market and sold non-priority and vacant properties at a healthy gain. This creates conditions for more value-generating projects, which is fully in line with our business model,” comments Klaus Hansen Vikström, Deputy CEO and Director of Business Development at Fabege.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO of Fabege, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, phone +46 (0)8-555 148 29, +46 (0)706-66 13 80
Klaus Hansen Vikström, Deputy CEO and Director of Business Development, tel +46 (0)8-555 148 74, +46 (0)70-239 34 81  

This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 7:45 am (CET) on 12 December 2014.

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 33.3bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment..

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