PANDOX SELLS HOTEL PROPERTIES IN MALMÖ AND SÄFFLE

Pandox sells the hotel properties First Hotel Jörgen Kock in Malmö and Scandic Hotel Säffle.

The hotel properties are sold for 60 MSEK, which results in a capital gain of 28 MSEK. The hotel properties were taken over on April 30th and May 2nd respectively.

The disposals will affect Pandox income, excluding capital gains, for the remaining eight months of the year negatively by 1.5 MSEK.

-"Pandox continues to act according to its strategy. The disposal is part of the group's aim to own large hotels in large hotel markets and further increases Pandox possibilities for acquisitions", says Anders Nissen, CEO Pandox AB.

The press release can also be downloaded from the enclosed link.