HeidelbergCement sells Stockholm property

HeidelbergCement sells Stockholm property
23 December 2014

As part of its asset structure optimisation, HeidelbergCement is selling its property at Lövholmen, Stockholm, Sweden, to enable residential development. The company currently operates a cement terminal at the location, which it plans to move to an industrial zone at Värtan, Stockholm.

The agreed minimum price of the property is around EUR115m and the deal is subject to several conditions, including the adoption of development plans for both areas. It is expected to be finalised in late 2017 at the earliest.

“The disposal is part of our long-term strategy for value creation and realisation from our significant worldwide real estate,” says Dr Bernd Scheifele, chairman of HeidelbergCement’s Managing Board. “At the same time we contribute with our relocation to the development of the City of Stockholm.”

Published under Cement News