Mettlach, 20 June 2013 - Villeroy & Boch Gustavsberg AB, a wholly-owned subsidiary of Villeroy & Boch AG, today signed an agreement to sell the property in Gustavsberg, Sweden. The property is being sold in several tranches. Accordingly, the extraordinary income from the disposals is expected in the 2013 and 2014 financial years. The total extraordinary income could amount to up to €17 million.
The investor Ikano Bostad, a Swedish company and part of the Ikano Group, is planning to build apartments on the land. The transaction is subject to legal approval of the development plan for the construction of residential property.