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Farsta Centrum. Credit: Atrium Ljungberg

Atrium Ljungberg’s sale of Farsta Centrum approved by the Swedish Competition Authority

In March the property company Atrium Ljungberg announced the sale of Farsta Centrum in Stockholm.

This deal has a rental value of SEK 310 million and more than 100,000 m2 letting area, and was conditional on the approval of the Swedish Competition Authority. The Swedish Competition Authority has now issued its approval of the transfer of Farsta Centrum. This means that all the terms and conditions of the deal have been met and the buyer, Stadsrum Fastigheter AB, will take possession on 1 June 2020.    

The sale of Farsta Centrum will take place through the sale of a company. The purchase price is based on an underlying property value of SEK 3,979 million before deductions for deferred tax. This deal represents a profit after tax of approximately SEK 240 million for the Atrium Ljungberg Group; including SEK 75 million in realised changes in value, SEK 225 million in deferred tax, and SEK 60 million for the impairment of goodwill. The earnings will be recognised in the accounts for the second quarter.