SAGAX SIGNS CONDITIONAL AGREEMENT TO ACQUIRE 37 PROPERTIES FOR SEK 1,560 M

Today, Sagax has signed an agreement to acquire properties in Spain for an amount corresponding to SEK 1,560 M. The acquisition is conditional on certain pre-emption rights not being exercised and that a due diligence is completed with satisfactory results. These conditions are expected to be met in February 2020, at which point the transaction will then be completed during the first quarter of 2020.

The acquisition refer to 37 properties encompassing 172,000 square metres of lettable area and 332,000 square metres of land. The properties have been developed with industrial buildings surrounded by car parks and marshalling yards. The properties are let to MAG which uses the premises for foodstuff wholesale operations for the HORECA segment. MAG, a leading Spanish food wholesale, generated sales of SEK 11 billion in 2018. MAG is part of the Bright Food (Group) Co., Ltd.

48% of the property value is concentrated to Catalonia. 27% of the portfolio is found in Barcelona and Madrid. The remaining average lease term is 5.8 years and the annual rental value corresponds to SEK 106 M.

For further information, please contact CEO David Mindus, tel +46 8 545 83 540.

About Sagax
AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax's property holdings at 30 September 2019 amounted to 3,021,000 square metres, distributed between 539 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.

This constitutes information that AB Sagax (publ) is legally obliged to publish under the EU's Market Abuse Regulation. The information was released for publication, through the agency of the contact person above, on 24 January 2020 at 2:30 p.m. CET.

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.