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Catena is today acquiring and taking possession of a property valued at SEK 280 million from the seller Domarbo Skog AB. The tenant at this efficient and climate-intelligent e commerce facility is online pharmacy Apotea.
2 July 2018, 1:30 p.m.
Catena and Domarbo Skog AB have today signed an agreement for Catena to acquire the Snesholm 1:16 property in the Municipality of Heby in the County of Uppsala, north of Stockholm. The property is being acquired through a corporate transaction at a predetermined property value of SEK 280 million. The purchase consideration for the shares amounts to approximately SEK 77 million, part of which is being financed through Catena’s own cash balances and part of which is being paid with newly issued shares in Catena. The share issue to finance part of the acquisition is directed to the seller, Domarbo Skog Aktiebolag and has been fully subscribed and paid through the acquisition. The share issue represents a capital contribution of SEK 50 million. The subscription price for the issue of approximately SEK 175 per Catena share is based on the average closing price over the past ten trading days, meaning that Domarbo Skog AB holds 285,330 new shares in Catena, corresponding to 0.76 percent of the total number shares following the issue. The new share issue has been approved by the Board of Directors of Catena, supported by the authorization granted to the Board of Directors by the 2018 Annual General Meeting of the Company.
The property sits on a plot of approximately 83,000 square metres and has a lettable area of approx-imately 38,000 square metres, a rental value of slightly more than SEK 18 million and a remaining lease term of 11.5 years. The newly built property, in a strategic location in the Morgongåva logistics cluster, is both climate-neutral and energy-efficient and has Sweden’s largest solar cell facility on its roof. The tenant, Apotea, is Sweden’s first wholly e-commerce pharmacy, with as many as 100,000 shipments being delivered to Apotea’s customers around the country from the property in question.
“The intensive expansion of the Morgongåva business park is continuing and, through this transaction with Catena, we are able to continue with further new construction for e-commerce and logistics operations within the park” says Henrik Lindley, CEO of Domarbo Skog Aktiebolag and Morgongåva Företagspark AB.
“The acquisition strengthens Catena’s position in the Mälardalen region and consolidates our position as a leader in logistics properties for e-commerce. The tenant, Apotea, is a pioneer in the industry and our hope is that Catena’s insight regarding the logistics properties and goods flows of the future will be an asset for Apotea and the Morgongåva business park”, says Benny Thögersen, CEO of Catena.
For further information, please contact
Benny Thögersen, CEO
Tel. +46 (0)706-60 83 50
Maths Carreman, Regional Manager Stockholm
Tel. +46 (0)730-70 22 12