Mekonomen Web Site - July 2, 2007
Mekonomen today completed the sale of the Group’s property portfolio, comprising 85,000 square metres of floor space, distributed among 45 retail properties and other commercial properties in Sweden and Denmark.
The purchaser is AXA Group of France, which took over the portfolio on 2 July 2007. The purchase price was SEK 529 million. (The annual rental expense is estimated at approximately SEK 36 M.)
The transaction gives rise to an after-tax capital gain of SEK 131 million. This amount will be reported in earnings during the third quarter of 2007, rather than in the second quarter, as previously announced.
Mekonomen is a car spare parts chain with its own wholesale operation and a nationwide retail network of wholly owned and co-operating stores in Sweden, Norway and Denmark. Group revenues mainly consist of revenues to service centres and motorists via wholly owned stores, and wholesale operations aimed at co-operating stores.
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Thursday, July 05, 2007
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