Nordic Land, the listed property company created in 2007 to invest in Scandinavian assets, has appointed DTZ to explore the possible sale of all or part of its property portfolio in Sweden. The company, which is managed by Lathe Investments, said that the decision was prompted by the decline in its share price which continues to trade at a significant discount to net asset value.
Nordic Land, the listed property company created in 2007 to invest in Scandinavian assets, has appointed DTZ to explore the possible sale of all or part of its property portfolio in Sweden. The company, which is managed by Lathe Investments, said that the decision was prompted by the decline in its share price which continues to trade at a significant discount to net asset value.
'The potential disposals will only be pursued if the assets can be sold at valuations which result in a net asset value per share materially above the current share price, and would require shareholder approval,' the company said.
Nordic Land, which saw its share price fall by 30% in March, owns a portfolio valued at EUR 73 mln in Sweden. The assets are located in the cities of Stockholm, Helsingborg and Lackeraren.
