Nordic Business Report-April 13, 2006-NKT Group sells properties in the US and increases full-year forecast
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The Danish industrial holding company NKT Holding A/S, the parent company of NKT Group, said on Wednesday (12 April) that its subsidiary Nilfisk-Advance A/S has signed a sales and lease-back agreement on two properties in the US.
Nilfisk-Advance sold a 44,000 square metre property in Plymouth, Minnesota and a 21,500 square metre property in Springdale, Arkansas to US commercial real estate investors. The properties, which include Nilfisk-Advance's US head office and production and storage facilities, were leased back on 10-year agreements.
The transaction will result in a pre-tax gain of DKK100m, as a consequence of which NKT Group has adjusted upward its forecast for 2006 from a previously announced pre-tax result of DKK540m to DKK640m.
One Danish krone (DKK) is worth approximately 0.09 British pounds (GBP).
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