Swedish property company Fabege AB (FABG.SK) said Friday its co-owned company Rasta Holding has divested land worth SEK630 million for the construction of the Mall of Scandinavia shopping centre in Solna, Sweden, as part of a transaction with Unibail-Rodamco S.A. (UL.FR).

 
   MAIN FACTS:

-In conjunction with the transaction, Fabege is also acquiring, from Rasta Holding, the right to develop 45,000 square meters of office space at a value of SEK70 million.

-Fabege owns most of the existing commercial properties in Arenastaden, where the Mall of Scandinavia is to be built, and the company said in a statement that the transaction boosts the attractiveness of the area.

-"The fact that the Mall of Scandinavia now will be realised feels incredibly inspiring and very exciting. It will accelerate the development of Arenastaden and it constitutes a key component in the plan to achieve the vision of Arenastaden as the meeting place for companies of the future," Christian Hermelin, CEO of Fabege said.

-Shares closed Thursday at SEK51.60.

-By Niclas Rolander; Dow Jones Newswires; +46-8-5451-3102; niclas.rolander@dowjones.com