2008-06-09
Stora Enso sells its head office building in Helsinki for approximately EUR 30 million
Stora Enso has signed an agreement to sell its head office building in Helsinki
to Deka Immobilien GmbH of Germany for approximately EUR 30 million. Stora
Enso's head office is located at Kanavaranta 1 in the Katajanokka district of
Helsinki. A capital gain of approximately EUR 2 million will be recorded as a
non-recurring item under Other operations in the segmental reporting of Stora
Enso's second quarter results.
Stora Enso will rent the building from WestInvest InterSelect, one of the Deka
Group's funds. Stora Enso will later relocate its head office to rented premises
in the Helsinki metropolitan area that will better meet its future needs.
Stora Enso's head office building in Helsinki was designed by architect Alvar
Aalto as the head office of Enso Gutzeit Oy. It was inaugurated in 1961.
Newsec Oy acted as the seller's advisor in the transaction.
Information about the company: Stora Enso Oyj
