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NOTE Sells Real Estate in Lund, Sweden
March 10, 2017 | NOTEEstimated reading time: Less than a minute
EMS firm NOTE AB has sold its real estate property in Lund, Sweden, for SEK44 million. The purchaser is Swedish property company Estancia Bostad AB. A multi-year lease contract is being signed with NOTE Lund as tenant simultaneous with the sale. This transaction has a positive effect on NOTE’s operating profit in the first quarter, of approximately SEK20 million.
The sales agreement, which is a share transfer agreement, contains no reservations about the purchaser’s financing. Completion is scheduled for April 1 this year.
“I’m really pleased we’re doing this deal now, which strengthens our liquidity and balance sheet further. We have recently decided to make a range of investments in our core business to expand our capacity, and in new, state-of-the-art technology, at our operations at Lund and Pärnu, Estonia, as well as several other parts of the group. Our focus is on growth and profitability, and our ambition is to play an offensive role in developing the sector,” commented Stefan Hedelius, NOTE’s president and CEO.
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