CLS Holdings completes Swedish exit

CLS Holdings completed its exit from Swedish property on Wednesday, netting SEK 590m for Vänerparken in Vänersborg.

The 418,800 sq ft mixed-use office, educational, residential, leisure and medical complex - CLS’s last remaining in the country - was acquired by Bengt Linden AB.

In a separate transaction, the FTSE 250 firm confirmed it has redeemed at par its SEK 300m bond due 2016.

The bond was issued in April 2011, and was repaid on maturity on 27 April from the company’s cash resources.

"We are delighted to have completed on the sale of Vänerparken following a number of lease renewals in 2015,” said CLS Holdings executive chairman Henry Klotz.

“The repayment of our Swedish bond is a natural consequence of selling our only investment property in Sweden."