Kesko and Niam Retail Holding Finland AB have completed the real estate deal in which Kesko sold 77 retail properties in various parts of Finland to Niam Retail Holding Finland AB. In addition to real estate owned by Kesko Group, 15 real estate properties owned by the Kesko Pension Fund were also sold at the same time.
Ownership of the above real estate was transferred to the buyer today upon receipt of the sale price. The sale price concerning the real estate sold by Kesko Group is over EUR 200 million. Kesko Group's gain on the disposal is EUR 99.8 million.
All the above premises have been leased back for the use of Kesko's division parent companies under 5-year or 10-year lease agreements with extension options. The concluded deal will cause no changes in retail store operations.
Information about the deal has been given previously in stock exchange releases on 5 December 2005 and 16 February 2006.
Kesko is the most versatile provider of trading sector services in the Baltic Sea area. In close cooperation with retailer entrepreneurs and other partners Kesko produces retail and wholesale services that are highly valued by customers. Kesko operates in Finland, Sweden, Norway, Estonia, Latvia, Lithuania and Northwest Russia.
Juhani Järvi, Corporate Executive Vice President, tel. +358 1053 22209
Arja Talma, Senior Vice President, CFO, tel. +358 1053 22113
Tapio Erme, Vice President, Real Estate Services, tel. +358 1053 22166
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