On April 22, 2015, Posti Group Corporation signed an agreement to sell an approximately 130,000 sq.m. real estate portfolio to Norwegian company Ness, Risan & Partners.
- The sale and leaseback of the properties supports our plan to lighten the balance sheet and to release capital for investments, among other purposes. The market situation was now favorable for the transaction, says Sari Helander, Posti Group's CFO.
The properties to be sold are:
· Tampere postal center (Perkkoonkatu 13, Tampere)
· Kuopio postal center (Patterimäenkatu 5, Kuopio)
· Oulu postal center (Takalaanilantie 2, Oulu)
· Tuusula warehouse (Palkkitie 1, Tuusula)
· Freight terminal in Pirkkala, estimated to be completed in late 2016 (Linnakalliontie, Pirkkala)
The transaction price for the real estate portfolio is approximately EUR 120 million, of which the share attributable to the freight terminal will be paid in late 2016. After taxes, Posti Group will record a more than EUR 30 million non-recurring capital gain from the transaction in the second-quarter result for 2015. The transaction also affects the balance sheet; the properties to be sold constitute 5% of the total assets on the balance sheet.
The real estate properties will transfer to the new owner on April 22, 2015, with the exception of the freight terminal that will transfer upon its completion in late 2016. Posti will continue its business operations in the properties with long-term leases.
The sale of the properties has no impact on personnel. Posti Group has a total of approximately 1,000,000 square meters of premises in its use. The area of the properties to be sold accounts for approximately 13% of the total area of the premises.
For further information, please contact:
Sari Helander, CFO
Posti MediaDesk tel. +358 (0)20 452 3366 (Monday to Friday 9:00 a.m. - 4:30 p.m., UTC +2)