Sales of Sponda’s 12 logistics properties and real estate funds to Certeum concluded; change in Sponda’s Executive Board
Stock Exchange Release,
30 September 2014, at 2:10 p.m.
Sales of Sponda’s 12 logistics properties and real estate funds to Certeum
concluded; change in Sponda’s Executive Board
The property investment company Sponda Plc has today concluded the sales of 12 logistics properties and its shares in the real estate funds Sponda Fund I, Sponda Fund II and Sponda Fund III to Certeum Ltd. The total debt-free sales price of the 12 logistics properties is EUR 216.7 million and their economic
occupancy rate is about 80.2%. The average net yield is about 7.2%. The sales price of the shares in the real estate funds is EUR 77.2 million.
In conjunction with the transaction, Sponda will become a Certeum shareholder and Sponda’s holding in the company will be about 38%, which amounts to approximately EUR 175 million. Sponda’s final holding in Certeum will be determined after the usual adjustments to the sales price have been made. Sponda has made a commitment to not sell its shares in Certeum before the Annual General Meeting of spring 2015. In line with its strategy, Sponda plans to reduce its ownership in Certeum in the future.
Sponda first issued a stock exchange release on the sales on 30 April 2014.
Change in the Sponda Executive Board
As a result of the sales, Kari Koivu, Senior Vice President in charge of Sponda’s Real Estate Funds business segment, will transfer to Certeum and leave his post as a member of the Sponda Executive Board.
For additional information, please contact:
Kari Inkinen, President and CEO, tel. +358 400 402 653
Pia Arrhenius, SVP, Corporate Planning and IR, tel. +358 40 527 4462
Erik Hjelt, CFO, tel. +358 400 472 313