An undisclosed buyer signed an agreement to acquire Citycon Kongssenteret Eiendom As from Citycon Oyj (HLSE:CTY1S) in May, 2024. The sales price is close to the latest IFRS fair value of the asset. This transaction is part of Citycon?s ongoing divestment programme targeting ?380 million of assets sales by the end of 2024, and a total of ?950 million over the next 24 months.

The proceeds from this transaction will be used to repay debt and to further strengthen Citycon?s investment grade balance sheet. The transaction is estimated to close by the end of May.