Citycon has Successfully Closed the Divestment of Property Portfolio to Cerberus Capital Management

Investment

Presswire

Citycon has Successfully Closed the Divestment of Property Portfolio to Cerberus Capital Management

[PRESSWIRE] HELSINKI, Finland, November 15, 2017 — In August, Citycon Finland Oy (“Citycon”) and Cerberus Capital Management, L.P. (“Cerberus”) announced a signed agreement whereby Citycon will divest assets in Finland. Today the agreement was closed and accordingly, Citycon divested its shopping centres Espoontori, Tikkuri, Myllypuron Ostari, Martinlaakson Ostari and Jyväskylän Forum to an affiliate of Cerberus.

CITYCON OYJ
For further information, please contact:
Marcel Kokkeel
Chief Executive Officer
Citycon
Tel. +358-40-154-6760
[email protected]

Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic region, managing assets that total almost EUR 5 billion and with market capitalisation of close to EUR 2 billion. For more information about Citycon, please visit www.citycon.com

CONTACT:

Eero Sihvonen

Executive VP and CFO

Tel. +358-50-557-9137

[email protected]