TDC Web Site - July 6, 2007
Today, TDC A/S announces that the company has entered into a sale and lease back agreement regarding 224 of its 1586 properties in Denmark with another company having ATP Ejendomme A/S and PFA Ejendomme A/S as its main investors.
The properties cover about 480,000 sqm and are mainly being used for technical and administrative purposes. TDC's head office at Nørregade 21, Copenhagen, which is owned by KTAS' pension fund, is not included. As a consequence of the sale and lease back, in future TDC will be a lessee of the properties. The leases are interminable for up to 30 years for the lessee as well as the lessor.
The total consideration is DKK 4.1bn on a cash and debt free basis. The sale is
expected to result in an after tax gain of approximately DKK 2.8 bn which will
be included in the 3Q statement of income under special items.
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Monday, July 09, 2007
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