Press Releases

Klövern is acquiring properties in Västerås

2004-04-21

Klövern AB is acquiring 43 properties in Västerås at a purchase price of SEK 905 million. The seller is Arvid Svensson Fastigheter. The properties consist of approximately 120 000 sq.m., of which 44 000 sq.m. is offices, 27 000 sq.m. shops and 28 000 sq.m. housing. The occupancy ratio is 96 per cent and the yield 7.5 per cent.

The properties are being taken into possession on 1 August 2004. The acquisition is being financed by a new issue of 17 million Klövern shares at a price of SEK 16, amounting to a total of SEK 272 million, and taking up new loans.

This acquisition means that Klövern is establishing a new geographical unit in Västerås by taking over staff with a good knowledge of the local market.

Klövern after completion of the acquisition

After completing the property acquisition, Klövern’s property holdings will consist of 790 000 sq.m. at a book value of SEK 4.1 billion. The annual rental income is SEK 525 million. The yield in Klövern’s total property holdings will be 8.1 per cent after the acquisition.

“The acquisition in Västerås means that Klövern will be an important player with centrally located properties in an attractive growth location. This takeover means that Klovern has a well-established organisation with a strong local implantation from the very start”, says Klövern’s C.E.O. Gustaf Hermelin.

“We are pleased that the property holding in Västerås is becoming part of an organisation that we feel confidence in and which has a great interest in developing activities at the location. Moreover, Arvid Svensson will continue to be involved in future as a major owner of Klövern”, says Fredrik Svensson Managing Director of Arvid Svensson AB.

Nyköping, 21 April 2004

Klövern AB (publ)

For further information, please contact:

Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00, gustaf.hermelin@klovern.se

Anders Lundquist, CFO, tel +46 155-44 33 20, +46 70-528 43 33, anders.lundquist@klovern.se

Britt-Marie Einar, Corporate Communications Officer, tel +46 155-44 33 12, +46 70-224 29 35, britt-marie.einar@klovern.se

Fredrik Svensson, Managing Director, Arvid Svensson AB, tel +46 21-10 50 11, +46 73-988 70 11, fredrik.svensson@arvidsvensson.se

Klövern is a listed real estate company active in the Swedish real estate market by acquiring, developing and disposing of properties with a focus on a high return on equity.

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden

Tel +46 155-44 33 00, Fax +46 155-44 33 22
Corporate registration no. 556482-5833 Registered office: Nyköping kelly.corem.se