December 20, 2012 - Assignment

DNB Liv sells Kista Galleria shopping mall in Sweden for SEK 4.6 billion

DNB Liv has divested the retail property Kista Galleria just outside Stockholm to Citycon Oyj and Canada Pension Plan Investment Board for approximately SEK 4.6 billion. The transaction is the largest single property transaction conducted on the Swedish market to date.

Kista Galleria is one of Sweden’s largest and most popular shopping malls with some 180 stores and 18 million visitors annually. The mall has a leasable area of approximately 106,000 square meters, varying types of premises. Inclusive of parking the property holds some 133,000 square meters.

DNB is Norway's largest financial services group and subsidiary DNB Liv is Norway’s largest provider of life insurance and pension savings.

DNB Liv was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Tomas Johansson, primarily assisted by Mirjam Gordan, and engaged many of the firm’s specialists.