Swedish construction company Skanska said it had sold an ongoing office project in Malmo, Sweden, to the country's largest insurance company Vital Forsikring for an undisclosed sum. The 10,000 m[sup]2[/sup] court of Appeals building is currently under construction and is due for completion in the third quarter of 2008. Skanska said its investment in the projects amounts to around SEK 255 mln (EUR 28 mln). The Swedish national courts authority has signed a 20-year lease on the building.
Swedish construction company Skanska said it had sold an ongoing office project in Malmo, Sweden, to the country's largest insurance company Vital Forsikring for an undisclosed sum. The 10,000 m2 court of Appeals building is currently under construction and is due for completion in the third quarter of 2008. Skanska said its investment in the projects amounts to around SEK 255 mln (EUR 28 mln). The Swedish national courts authority has signed a 20-year lease on the building.
Separately, Skanska said it had signed a EUR 750 mln syndicated credit facility with 15 international commercial banks. The facility will be used primarily as a strategic borrowing reserve, the company said.
