Citycon bought out Åkersberga municipality

      Comments Off on Citycon bought out Åkersberga municipality

Citycon has bought the remaining 25 percent of shares in Åkersberga Centrum from Armada Fastighets AB, Österåker municipal housing company.

The municipality has been a minority shareholder since 2005 when Citycon acquired a stake of 75 per cent of the shopping center. The purchase price corresponds to a property value of the minority interest of approximately SEK 180 million.

Åkersberga Centre has 70 shops, cafes and restaurants spread over 24,500 square meters. The center was renewed and expanded in 2010-2011 with an expansion of 12 000 square meters and currently has close to 6 million visitors per year.

”By becoming sole owner of Åkersberga Centrum, this strengthens our Swedish portfolio more in line with our strategy. Citycon focuses on strong neighborhood center in urban locations, and we look forward to the long-term owners continue developing Åkersberga Centrum,” says Nils Styf, investment manager at Citycon