Citycon Divests Three Finnish Shopping Centers for EUR 422.6 Million
Citycon Oyj's Board of Directors has approved the divestment of three Finnish shopping centers. The properties have an appraised value of approximately EUR 422.6 million.
Citycon Oyj announced on August 12, 2026, that its Board of Directors has approved the potential sale of three shopping centers: Myyrmanni in Vantaa, Koskikeskus in Tampere, and Trio in Lahti. The transaction is set to be executed at book value, based on the latest appraisal value of approximately EUR 422.6 million as of June 30, 2026.
The buyer, Noga Finland Retail Properties Oy, is currently controlled by the shareholders of G City Ltd. Further details regarding the signing of the share purchase agreement and closing are expected to be announced later.
This divestment marks a significant move for Citycon's property portfolio, aligning with its strategy of active portfolio management. The affected shopping centers are key retail locations within their respective cities.
The transaction is anticipated to impact the company's financial standing and facilitate the reallocation of capital towards future strategic initiatives.