CITYCON OYJ Investor News 13 June 2019 at 9.00 hrs
Citycon has signed an agreement to sell two shopping centres in Finland for approximately EUR 77 million to a Nordic real estate investor NREP. According to the agreement, Citycon will divest shopping centre Arabia in Helsinki and shopping centre Duo in Tampere. The sales price is in line with the asset’s latest IFRS fair value. The transaction is estimated to close during Q2/2019.
“This divestment reflects Citycon’s strategy to focus on larger, urban and grocery-anchored shopping centres in the Nordics. We will use the proceeds from