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July 19, 2016

Starwood Capital and Vencom to sell retail assets in Sweden

Starwood Capital Group and Vencom have agreed to sell six retail parks and shopping gallerias in Sweden to Trophi Fastighets.

Starwood Capital Group and Vencom have agreed to sell six retail parks and shopping gallerias in Sweden to Trophi Fastighets.

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The transaction is valued at around SEK3.1bn ($360m) and is expected to be completed by September this year.

Trophi Fastighets is managed by Redito and owned by the Swedish pension fund AP3. The assets to be sold by Starwood Capital and Vencom will include Arninge in Täby, Bäckebol in Göteborg; Boländerna in Uppsala, Jägersro in Malmö, Tunapark in Eskilstuna, and Weibullsholm in Landskrona.

Starwood Capital Group's vice-president Richard Vaaje said: "We are pleased that these retail assets have benefited from the steady growth of the Swedish economy and strong retail sales, as projected in our investment thesis."

"Assets to be sold include Arninge in Täby, Bäckebol in Göteborg, and Boländerna in Uppsala."

Vencom's chairman Johan Gustafsson said: "During the years under our ownership, we have worked to actively develop these assets to create value.

"In particular, we focused on enhancing Arninge, where the municipality of Täby is currently processing a building permit of 18,000m², as well as Bäckebol, where we acquired a nearby asset of 30,000m² of land, which has been partially sold to the listed grocery store company ICA.

“We also created and initiated a plan for the redevelopment and repositioning of Jägersro Centre."

Cushman & Wakefield, Mannheimer Swartling, and PwC have acted as the advisors for this transaction.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.