Nyfosa has signed a letter of intent with funds advised by Blackstone to divest a logistics portfolio with an approximate value of SEK 2.1 billion. The divestment will pave the way for new acquisitions with cash flow in focus.
The intention is to enter into a binding divestment agreement in September, 2020. Nyfosa will provide more information as soon as the terms of the divestment have been agreed.
“Nyfosa will continue to grow, strengthen its cash flows and be active in the transaction market. Through this divestment in the logistics segment, we strengthen the balance sheet for new acquisitions with a focus on growth in cash flow. We have maintained a high transaction rate over the past year with property acquisitions amounting to approximately SEK 13.5 billion and divestments amounting to around SEK 1 billion.”, says Stina Lindh Hök, COO of Nyfosa.