SAS to divest six properties to Swedavia for SEK 1.8 billion
As a step in the overall strategy to focus on its core business, the SAS Group has signed an agreement with Swedavia to divest six properties at Arlanda in Stockholm, Landvetter in Gothenburg and Sturup in Malmö at a market value of MSEK 1,775.
The transaction will generate a positive effect of MSEK 450 and capital gains of approximately MSEK 350, which will be reported during the second quarter of 2012. SAS has also signed a lease agreement with Swedavia. The annual cost for the lease agreement is neutral, compared with ownership of the properties.
“The transaction is part of our 4Excellence strategy, in which we focus on the core business, while releasing capital and strengthening our financial preparedness,” says Benny Zakrisson, Executive Vice President Infrastructure and M&A.
The properties comprise mainly hangers, workshops, warehouses and offices. The sales process, which was initiated by SAS in 2011, was implemented in international competition.
Newsec Corporate Finance was SAS’ advisor in the transaction.
For further information, please contact:
Sture Stølen, Head of SAS Group Investor Relations, +46 70 997 1451
SAS Group Investor Relations
SAS is publishing this information in accordance with the Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication on April 30, 2012 at 12.55.