HUGIN Online - February 12, 2007
Norwegian Plastics firm Polimoon has concluded the sale and leaseback of the three properties in Norway and one property in Denmark to a property fund established by Orkla Finans at what is considered favorably terms.
The gross proceeds were 270m NOK, generating a gain of 180 mNOK prior to tax and any fair value assessments. After payment of tax the net cash proceeds are approximately 240 mNOK. The rent, through a 15 year agreement is 19 mNOK annually and subject to a fixed 2% indexations.
After the sale and leaseback Polimoon is still a substantial owner, with 17 properties in excess of 140.000 square metres under roof.
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Thursday, February 15, 2007
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