BICO has completed the divestment of the Berlin property for a total of EUR 21m
November 30, 2023 5:45 pmBICO has, as of today, completed the divestment of the property in Berlin, Germany to BEOS. The transaction was communicated upon signing in August 2023 and BICO has now received the funds.
Closing of the transaction was subject to approval from the city of Berlin, which was granted in November 2023. The total sales price amounted to EUR 21m (approximately SEK 246m), and the sales price was 10% higher than book value. The transaction generates a positive cash flow contribution in Q4 2023.
As communicated in August, the transaction also includes a leaseback, with BICO company SCIENION as tenant where a long-term lease over 15 years with a break option after 10 years.
