December 20, 2024 07:09 GMT
REAL ESTATE: CityCon (CITCON: BA1u*- / BBB- neg): Divestments Executed
REAL ESTATE
- Divestments confirmed - but a little below target
- CityCon confirmed that it has now closed 3 earlier announced divestments
- Year-to-date sales have reached €354m
- 2 shopping centres in Norway and Estonia were sold for €148m and the back-to-back sale of Barkarbystaden has gone through
- Proceeds will be used to strengthen the balance sheet
- On the recent Roadshow, the company spoke of €380m disposals for 2024 - so this does seem to have come a little short. €950m by YE2025
- Recent CITCON 5% 30 came +310 and is now z+264 (Bberg)
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