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Sponda to sell its 38% stake in Certeum

Sponda Plc
Stock Exchange Release,
14 October 2015, 1:00 pm

Sponda to sell its 38% stake in Certeum

The sale

Sponda Plc has signed today a sale and purchase agreement concerning the sale of all of its shares in Certeum Ltd to Tungsten Investment S.à r.l., a company affiliated to Blackstone Real Estate Partners Europe IV. The consideration to be received by Sponda is approximately EUR 190 million and the profit on the sale will be approximately EUR 7 million. The purchase price is subject to customary adjustments. The sale is expected to be completed by the 16th of December 2015 and the completion is conditional upon an approval being obtained from the competition authorities.

Background for the sale

As an integral part of Sponda’s strategy, Sponda co-founded Certeum in 2014 together with Varma Mutual Pension Insurance Company, The State Pension Fund, Sponda Fund I, Sponda Fund II and Sponda Fund III. Certeum specializes in logistics and industrial properties.

Certeum is a logistics and industrial property investment company, which started its operations in September 2014. Certeum specialises in owning, leasing and developing logistics and industrial properties. The 122 logistics and industrial properties owned by Certeum are mainly located in the biggest cities in Finland. Certeum’s property assets have a leasable area of approximately 1.3 million square metres (30 June 2015).

The agreed sale of Sponda’s stake in Certeum is the next step in the implementation of Sponda’s strategy and in accordance with the intentions disclosed in September 2014, when Sponda announced its plans to reduce its ownership in Certeum in the future.

Sponda Plc

The Board of Directors

Additional information:
Kari Inkinen, President and CEO, tel. +358 400 402 653 Pia Arrhenius, SVP, Corporate Planning and IR, tel. +358 40 527 4462

Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.1 billion and the leasable area is around 1.2 million m².