SAGAX 'B'

Swedish property company Sagax AB on Friday reported a rise in third-quarter rental revenue but a sharp drop in net profit, as it confirmed a major investment into the retail sector.

Swedish property company Sagax AB said Thursday it has invested 1.19 billion Swedish kronor to acquire a 10.8% stake in Retail Estates NV, signaling a diversification from its core industrial real estate focus.

Swedish property company Sagax AB reported a 34% drop in first-half profit, as negative revaluations on its property portfolio and financial instruments overshadowed growth in rental income.

Swedish property company Sagax AB said on Monday it has agreed to acquire 13 properties in France for 480 million Swedish kronor, continuing its strategy of expanding its European real estate portfolio.

Swedish property company Sagax AB said it has invested 910 million Swedish kronor in eight properties across Europe, continuing its expansion in the warehouse and light industrial sector.