STOCK EXCHANGE RELEASE 31 Oct 2013
Pöyry PLC: Pöyry sells the Vantaa office real estate
PÖYRY PLC Company Announcement 31 October, 2013 at 3:00 p.m. EEST
Pöyry has agreed to sell its Vantaa office real estate in Finland to Niam Nordic Core Plus fund, managed by Niam AB. In the transaction Pöyry PLC and Niam AB will sign a long-term lease agreement for the property. The whole transaction is expected to be effective before the end of 2013.
Following the transaction, Pöyry's Vantaa office real estate and 50 % of the shares in Martinparkki Oy, which owns the adjacent car park, will be owned by Niam AB.
"When the property deal is completed, it will improve the profit after taxes for 2013 by about EUR 11 million and have a positive impact on our gearing ratio", says Jukka Pahta, CFO, Pöyry PLC.
Johan Bergman CEO at Niam says, "This was an opportunity for us to acquire a property with attractive and stable cash flows located next to the new airport express train between the international airport and the city of Helsinki. We are confident that the Helsinki office market is a very attractive investment market that will continue to improve and grow".
Additional information from:
Jukka Pahta, CFO, Pöyry PLC
tel. +358 10 33 22629
NASDAQ OMX Helsinki