FORTUM CORPORATION PRESS RELEASE 31 October 2017
Fortum and Fortum’s Pension Fund will sell Fortum’s current head office campus in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office buildings and the plots.
Fortum announced earlier this year that the company’s head office will move at the turn of 2017-2018 to a refurbished multi-space office in Keilaniemi, Espoo. In addition to Fortum, the new head office building will house Tieto Oyj and Microsoft Oy. At the same time the company also announced that it was reviewing the continuation of its current head office. The primary alternative was to sell the building.
“We are pleased to have reached this point in the project. The new owner can now start the work to develop the iconic high-rise and the surrounding area. We will focus on our core business and will move into premises in Espoo that will better accommodate our current operations,” notes Risto Penttinen, Senior Vice President, Strategy, People and Performance, Fortum.
“Regenero’s goal is to develop the entire Keilaniemi area. With the real estate acquisition, Regenero can create a sustainable, multi-use urban environment close to excellent public transportation services that are continuing to develop with the Western Metro Extension,” says Juha Kostiainen, Chairman of Regenero’s Board of Directors.
“Fortum’s head office move is part of a broader corporate culture change, which will strengthen innovativeness and support open interaction between employees and a modern management approach. Our intention is to get the best possible benefit from new technologies in our daily work. We also want to promote the work wellbeing of our personnel by offering an inspiring working environment and the opportunity for flexible working,” says Risto Penttinen.
The value of the transaction is about EUR 74 million. Fortum will record the profit from the sale in its first-quarter 2018 financial result.
Fortum Corporation
Group Communications
Further information:
Ville Halonen, Vice President, Corporate Procurement and Real Estate, Fortum, tel. +358 40 832 4489
Juha Kostiainen, Senior Vice President, Sustainable Urban Development, YIT Corporation, tel. +358 400 721 475, juha.kostiainen@yit.fi
Additional information about Fortum’s move:
Press Release 3 April 2017: Fortum's head office in Keilaniemi, Espoo, will move
Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum’s share is listed on Nasdaq Helsinki.
www.fortum.com
Regenero
Regenero is a joint venture formed by YIT and HGR Property Partners founded in 2016 to further deepen the collaboration of the parties and to prepare the companies for future growth. The development projects of Regenero focus on properties in key urban locations, aim at increasing the profile of the area and they are implemented with long-term experience and expertise. The projects to be implemented are of considerable size and can include various types of premises such as office and retail as well as public premises.
