Billia Web Site - December 3, 2007
In January, Bilia, the leading Nordic car dealer and service provider in Sweden, Norway and Denmark, will be presenting a prospectus relating to the sale of real estate in Copenhagen, Denmark, and Mälardalen, Sweden. The sales process is expected to be complete at the end of the first quarter of 2008.
The sale of the real estate in Denmark is dependent on Bilia utilising the option it obtained in 2005 in connection with the Scaniadam deal to acquire the A/S Selandia Ejendomsselskab real estate company. The book value of the Danish holdings is estimated after the acquisition at approximately SEK 300 M.
The acquisition of the Hans Persson Group included real estate holdings and the plan now is to dispose of these holdings by selling Hans Persson Fastighets AB. The book value of these real estate holdings is approximately SEK 250 M. Bilia will be signing long-term rental agreements for most of this real estate. In Bilia’s view, the sale will result in a not insignificant capital gain.
Bilia has commissioned the services of Catella Corporate Finance as an adviser to complete the sale.
Bilia, headquartered in Sweden, has 3,500 employees and an annual turnover of SEK13.5bn. Bilia is listed on the Nordic Exchange in Stockholm.
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Monday, December 03, 2007
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