Swedish retailer Bilia has signed an agreement with a subsidiary of Corem Property Group for the sale of some assets in Copenhagen for a total of SEK 278mln (EUR 30mln). Bilia will lease back the properties which are to be transferred to the new owner on 1 September 2008. This sale is expected to result in a profit after tax of approximately SEK 35mln.
Swedish retailer Bilia has signed an agreement with a subsidiary of Corem Property Group for the sale of some assets in Copenhagen for a total of SEK 278mln (EUR 30mln). Bilia will lease back the properties which are to be transferred to the new owner on 1 September 2008. This sale is expected to result in a profit after tax of approximately SEK 35mln.
The company expects to sell additional real estate in the Danish city to another buyer. In a statement, Bilia added that it will not leae back these other properties as it plans to move its operation to other existing premises in Copenhagen. Catella Corporate Finance and Advokatfirman Vinge acted for Bilia.
