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- KMC Properties Divests Its Office Building In Moscow
KMC Properties divests its office building in Moscow
29 Nov 2022 13:55 CET
Issuer
KMC Properties ASA
KMC Properties ASA, a real estate company focusing on industrial and logistic
properties, today announces that it has received payment of EUR 9.6 million for
the sale of its office building in Moscow, Russia.
A complete sanction control and ownership research has been carried out of the
buyer. The settlement has been made outside Russia.
Reference is further made to KMC Properties financial report for the third
quarter of 2022, where the company announced that it had accepted a bid for the
property valuing the building at USD 9 million, in line with the booked value on
30 September 2022.
KMC Properties initiated a sale of its Russian subsidiary owning the company’s
office building in Moscow during the first quarter of 2022. The investment in
Russia was consequently presented as a discontinued operation.
For further information, please contact:
Charlotte Knudsen, IR and Communications KMC Properties ASA, tel. +47 97561959
About KMC Properties ASA
KMC Properties is an Oslo Børs-listed real estate company focusing on
industrial- and logistic properties. The company has a diversified portfolio of
properties, mainly in the Nordics and the Netherlands. The properties are
strategically located and have long lease agreements with solid tenants.
KMC Properties has an ambitious strategy to grow the portfolio through further
development of existing properties, as well as M&A initiatives.
The information is such that KMC Properties ASA is required to disclose in
accordance with the EU Market Abuse Regulation. The information was submitted
for publication, through the agency of the contact person set out above, at
13:50 CET on 29 November 2022.
More information:
Access the news on Oslo Bors NewsWeb site
Source
KMC Properties ASA
Provider
Oslo Børs Newspoint
Company Name
KMC PROPERTIES ASA, KMC Properties ASA 20/23 FRN FLOOR C
ISIN
NO0010360175, NO0010908163
Symbol
KMCP
Market
Oslo Børs