May 24, 2017 / 5:18 AM / 2 months ago

BRIEF-Kungsleden divests properties in Uppsala and Botkyrka

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May 24 (Reuters) - KUNGSLEDEN AB

* KUNGSLEDEN DIVESTS PROPERTIES WITH RESIDENTIAL DEVELOPMENT POTENTIAL IN UPPSALA AND BOTKYRKA

* SIGNED AGREEMENTS FOR SALE OF FLOGSTA 22:3 PROPERTY IN UPPSALA AND GREENFIELD PROPERTIES TUMBA 7:231 AND 7:237 IN BOTKYRKA IN TWO SEPARATE TRANSACTIONS

* BUYER WILL PAY AN INITIAL PRICE OF SEK 42.5 MILLION AT CLOSING PLUS A GUARANTEED FUTURE EARNOUT OF SEK 10 MILLION NO LATER THAN SIX YEARS AFTER CLOSING

* AN ADDITIONAL FUTURE EARNOUT IS DEPENDENT ON FINAL ZONING PLAN.

* Closing Will Occur in July.

* BOTH TRANSACTIONS GIVE AN INITIAL PROFIT EFFECT OF SEK 13 MILLION. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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