As previously announced, Ratos has been in negotiations with the National Property Board of Sweden regarding a possible transfer of ownership of its Stockholm Lejonet 4 property to the Swedish state. Following these negotiations, an agreement has now been reached for the Swedish state to purchase the property. The agreement is conditional on the National Property Board receiving authorisation to complete the agreement from the Swedish government, upon approval from parliament, by 19 July 2019 at the latest.
Ratos will receive 550 MSEK in conjunction with the sale. The consolidated book value for the property at 31 December 2018 was 56 MSEK.
“The Stockholm Lejonet 4 property was acquired by Söderberg & Haak in 1938 and by Ratos in 1980. The security requirements in the area surrounding the property have gradually increased, resulting in a number of restrictions and obstacles in terms of how the property can be used, including entry and exit restrictions. Allowing the National Property Board to take over the property is therefore a logical alternative”, says Jonas Wiström, CEO of Ratos.
Ratos has the option to remain in the property until the end of 2021.