STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
JM (STO:JM) has agreed the sale of its property Enghave Brygge, in Copenhagen. The sale amounts to 290 MSEK.
The property is located in central Copenhagen and consists of an undeveloped plot with the opportunity to develop residential dwellings and commercial premises. Following the sale of Enghave Brygge, JM's building rights portfolio in Denmark consists of one property in Humlebäck and at present, no production is in progress.
“The sale of Enghave is part of our strategy of concentrating our international business on Norway and the development of our operations in Finland,” says Martin Asp, Business Unit Manager, JM International.
Possession and payment is scheduled for December 2015. The sale will have no effect on the income statement.
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 emphasis on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 15 billion and the company has about 2,300 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment.
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