JM Receiving SEK 20 Million in Profit Sharing from Property Sale
STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
RBS Nordisk Renting acquired the Karlberga 2 property in Södertälje from JM in 1999, and is now selling the property to Rikshem. JM (STO:JM) is entitled to profit shares when the property is sold.
The earnings and payment to JM amount to SEK 20 million and will be recognized as equal shares in the JM Property Development and JM Residential Stockholm business segments in Q2 2014.
The property consists of approximately 7000 m2 and has been developed for senior housing.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in the project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term quality and environmental management in all its operations. Annual sales total approximately SEK 13 billion and the company has approximately 2,200 employees. JM AB is a public limited company listed on NASDAQ OMX Stockholm, Large Cap segment.
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