TECHNOPOLIS PLC STOCK EXCHANGE RELEASE November 21, 2016 at 1:30 p.m.
Technopolis Executes EUR 60.6 Million Divestiture
Technopolis Plc signed an agreement today to sell its remaining Lappeenranta operations, as well as its Finnmedi campus in Tampere. The aggregate sales price is EUR 60.6 million. The buyer is a group of domestic investors comprising the investment funds eQ Care and eQ Finnish Real Estate, real estate investment company Investors House Plc and Kampus Skinnarila Oy, a company managed and partially owned by Investors House Plc. The properties have a leasable area of 38,300 m2 in total.
The fair value-positive deal will have a negative impact of EUR 1.0 million on the Group’s net sales and a positive impact of EUR 0.3 million on EBITDA for 2016. The company’s guidance for the current year remains unchanged.
Technopolis personnel in Lappeenranta will be transferred to the payroll of Investors House Plc. The Finnmedi sale will have no impact on Technopolis personnel.
“This divestiture is part of our campus portfolio strategy to reduce and focus our Finnish exposure and it will provide additional firepower for expansion in the Nordic-Baltic region,” says Keith Silverang, CEO of Technopolis.
Technopolis Plc
Additional information:
Keith Silverang
CEO
tel. +358 40 566 7785
Technopolis provides the best addresses for success in six countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 21 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,700 companies and their 49,000 employees in Finland, Sweden, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on Nasdaq Helsinki.