4th May 2016 07:06
LONDON (Alliance News) - Property developer CLS Holdings PLC on Wednesday said it has agreed to sell its final investment in the Swedish market for SEK590.0 million, or around GBP50.4 million.
CLS has sold a 418,800 square foot Vanerparken mixed-use office, educational, residential, leisure and medical complex in Vanersborg to Bengt Linden AB, a Swedish property company.
"We are delighted to have completed on the sale of Vänerparken following a number of lease renewals in 2015," said CLS Chairman Henry Klotz.
CLS also said it has redeemed its SEK300 million 2016 bond using existing cash resources.
"The repayment of our Swedish bond is a natural consequence of selling our only investment property in Sweden," Klotz added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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