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BRIEF-Citycon and Klövern intend to develop 'Globen Shopping' together
August 31, 2017 / 5:42 AM / 4 months ago

BRIEF-Citycon and Klövern intend to develop 'Globen Shopping' together

Aug 31 (Reuters) - CITYCON OYJ

* CITYCON AND KLÖVERN INTEND TO DEVELOP `GLOBEN SHOPPING’ TOGETHER

* ACCORDING TO CURRENT DEVELOPMENT PLAN, PARTIES ESTIMATE A TOTAL INVESTMENT OF EUR 260-290 MILLION, INCLUDING ACQUISITION OF PART OF PROPERTY ARENAN 2

* LETTER OF INTENT ENCOMPASSES CREATION OF A JOINT VENTURE THAT INTENDS TO ACQUIRE SHOPPING CENTRE PART OF PROPERTY ARENAN 2 FROM KLÖVERN

* DIVISION OF OWNERSHIP IN JOINTLY OWNED COMPANY WILL BE 55 PER CENT CITYCON AND 45 PER CENT KLÖVERN Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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