TDC Divests Properties

COPENHAGEN -- Today TDC has divested 224 of its properties in Denmark to ATP Ejendomme and PFA Ejendomme at a price of DKK 4.1bn. The sale is expected to result in an after tax gain of DKK 2.8bn which will be included in the 3Q statement of income under special items.

"TDC's core business is telecommunication and not property management. Therefore, we are pleased to have found a buyer focusing on property development", says President and CEO of TDC, Jens Alder.

The 224 properties cover about 480,000 sqm and are mainly used for technical and administrative purposes. TDC will lease the divested properties back.

Two thirds of the divested properties are centrally located in Copenhagen, Århus, Aalborg, Odense and in the area around Fredericia, Kolding and Vejle.

TDC owns 1586 properties in total and will after the divestment still own the remaining 1362 properties, mainly consisting of smaller technical buildings. TDC's main office at Nørregade 21 in Copenhagen is owned by KTAS' Pension Fund for which reason it is not part of the sale.

TDC A/S (Copenhagen: TDC)