Klövern finalizes the acquisition of Globen City

Klövern finalizes the acquisition of Globen City and Startboxen 3, initially communicated at the letter-of-intent stage on 24 January. Total lettable area amounts to around 140,000 sq. m. and consists mainly of office space. This acquisition increases Klövern's exposure to Stockholm substantially, after the transaction the Stockholm Region will account for around 50 % of Klövern's property value.

The total purchase price amounts to approximately SEK 3.8 billion and transfer of possession is preliminarily set at 1 April. The acquisition is subject to approval by Konkurrensverket (Swedish Competition Authority).

"The acquisition strengthens Klövern's position in the Stockholm area substantially. Klövern is increasingly turning into a company focused on Stockholm combined with a presence in a number of strong regional cities. We believe strongly in the emerging Söderstaden as an attractive place to work with good communications", says Klövern's CEO Rutger Arnhult.

MAQS Law Firm has been legal adviser to Klövern.

For further information, please contact:
Rutger Arnhult, CEO, +46 70-458 24 70, rutger.arnhult@klovern.se
Lars Norrby,  IR, +46 76-777 38 00, lars.norrby@klovern.se

Klövern is a real estate company committed to working closely with customers to offer them efficient premises in Swedish growth regions. As of 31 December 2013, the value of the properties totalled approximately SEK 24.1 billion and the rental income on an annual basis was around SEK 2.6 billion. Klövern is listed on Nasdaq OMX Stockholm Mid Cap. For further information, see www.klovern.se.

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Phone: +46 155-44 33 00, fax: +46 155-44 33 22,
e-mail: info@klovern.se.

This information is such that Klövern AB (publ) is obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was made available for publication on 10 March 2014.

Klövern finalizes the acquisition of Globen City


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Klövern AB (publ) via Globenewswire
HUG#1767258