Swedish business communications company Intellecta AB divests property to release cash for

Nordic Business Report-October 25, 2006-Swedish business communications company Intellecta AB divests property to release cash for expansion
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Swedish business communications company Intellecta AB announced on Wednesday (25 October) that it has divested its remaining property, a building in Solna, Sweden.

The property was sold to the property company Brostaden for SEK40m, which resulted in a gain of SEK19.5m.

Intellecta said that it divested the property in order to release cash for the continued development and expansion of its core businesses of business communications and publishing.

The Solna property is occupied by Intellecta's printing subsidiary Intellecta Tryckindustri, which continues as a tenant in the property.

Intellecta, headquartered in Stockholm, Sweden, has 400 employees and operations in Sweden and Denmark. Intellecta is listed on the Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 13.70 Swedish kronor (SEK).

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