Sunday, December 03, 2006

Swedish Bank SEB AB Offering Sale Leaseback of 47 Baltic Properties

SEB Web Site - November 29, 2006

Swedish bank SEB AB has decided to sell its property holdings in Estonia, Latvia and Lithuania. This is in line with SEB's strategy of not owning properties and outsourcing non-core operations.

The property holdings comprise one sale and leaseback portfolio of 47 properties, in which SEB intends to lease premises over a long period of time, and one commercial portfolio of 16 properties. The commercial portfolio consists primarily of larger properties with significant development potential in attractive locations. These properties will mainly be let to other tenants or in which SEB intends to lease only for a limited period of time. The total book value amounts to EUR 104 million.

SEB has retained Catella Corporate Finance, SEB Enskilda and SEB Vilfima as exclusive advisors in the sale process. The bids shall be submitted before 16 January 2007, and the sale is expected to be completed during the first quarter of 2007. Sphere: Related Content

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