Sagax agrees on acquisition of property portfolio

Avance advises Sagax (listed on NASDAQ OMX Stockholm) in the acquisition of a property portfolio consisting of 2 hypermarkets and 184 grocery stores, which are leased to S Group and Suomen Lähikauppa, respectively. The seller is a fund that acquired the portfolio from Suomen Lähikauppa through a sale and leaseback transaction in 2006. The acquisition is conditional on the completion of the pending acquisition by Kesko Corporation of Suomen Lähikauppa.