SAS divests six properties to Swedavia for $265m

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SAS Group, the parent company of Scandinavian Airlines, has signed an agreement to divest six properties to Swedish airport operator Swedavia.

The buildings will be sold for a combined total of 1.78 billion kroner ($265 million), generating capital gains of 350 million kroner which will be booked in Q2 2012.

They are located at Arlanda in Stockholm, Landvetter in Gothenburg and Sturup in Malmö, comprising hangarage facilities, workshops, warehouses and offices.

The divestment forms part of the group's '4Excellence' strategy, which focuses on releasing capital and strengthening the core business, says Benny Zakrisson, executive vice-president infrastructure and M&A.