HeidelbergCement has announced that it is selling property in Lövholmen, Stockholm, Sweden. At present the construction materials producer operates a cement terminal on the property, which it now plans to relocate to an industrial zone in Värtan, also in Stockholm. The sale is in line with HeidelbergCement’s asset structure optimisation plans.
A sales contract has been signed with a consortium comprising Järntorget Byggintressenter AB and Besqab AB. Both companies are active in the holding and development of real estate, and the property will be used for residential purposes. The agreed minimum price of the site is approximately €115 million.
The deal is expected to close in late 2017 at the earliest. It is subject to a number of conditions, including the adoption of development plans for both Lövholmen and Värtan.
“The disposal is part of our long-term strategy for value creation and realisation from our significant worldwide real estate,” said Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “At the same time we contribute with our relocation to the development of the City of Stockholm.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/22122014/heidelbergcement-to-sell-property-in-lovholmen-sweden-59/