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Bonava selling German 97-unit rental project for about 364M kronor

Bonava AB is selling a 97-unit rental project in Hamburg, Germany, to housing company WERTGRUND Immobilien AG for about 364 million Swedish kronor.

The project is expected to be handed over and recognized in profit in the second quarter of 2021.

As of Dec. 11, US$1 was equivalent to 9.09 Swedish kronor.