Sjælsø up after it largest ever sale

Sjælsø Gruppen (CPH: SJGR) is up strongly this morning after notifying the stock exchange on the sale of its largest project to date called Udsigten and located at Margretheholm, Copenhagen to PKA and Topdanmark. The 45 000 square metre projects comprises of 458 apartments and a small commercial lease. The apartments will be completed in 2014-2015. The final price will be determined once the construction is completed but it is presumed to be between 1.0 and 1.1 billion DKK. The financing has been arranged between the buyers and Sjælsø. While the sale has no effect on 2012 guidance, it gives the company flexibility going forward