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Technopls Ventures Ltd. — M&A Activity 2013
Dec 19, 2013
7074_rns_2013-12-19_470ce419-7de7-480c-a792-44d6291ce1dc.html
M&A Activity
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Technopolis Sells 19% stake in Oslo Campus to Ilmarinen
Technopolis Sells 19% stake in Oslo Campus to Ilmarinen
TECHNOPOLIS PLC STOCK EXCHANGE RELEASE December 19, 2013 at 3:00 p.m.
Technopolis Sells 19% stake in Oslo Campus to Ilmarinen
Technopolis has sold a 19% stake in its Fornebu campus in Oslo. Technopolis
announced on 31.10.2013 that it was in negotiations with Ilmarinen concerning
the sale of a minority holding in the campus.
In the aftermath of the deal Technopolis will retain a 51% interest in the
campus' operational company, while IT Fornebu Properties AS will have a 30%
stake and Ilmarinen a 19% stake in the company.
Technopolis has sold the stake to Ilmarinen with the same valuation used when
Technopolis acquired the campus. The deal has no impact on Technopolis' option
to acquire land adjacent to the campus nor material impact on any of the terms
and conditions that were agreed in the original deal. Ilmarinen has the right,
as part of the agreement, to sell its stake to Technopolis at the fair value
from the 5th to the 7th anniversary of the deal.
Additional information on the campus: http://www.technopolis.fi/fornebu-en.
Technopolis Plc
Keith Silverang
CEO
Tel. +358 40 566 7785
Sami Juutinen
Director, International Operations
Tel. +358 40 484 7487
Technopolis Plc is a listed real estate company that specializes in leasing
space and providing services. Its core business idea is to combine business
support services with modern, flexible, multi-user business environments. There
are approximately 26,000 people and almost 1,400 companies and organizations in
Technopolis premises in Finland, Estonia , Norway, Lithuania and Russia. The
company's net sales for 2012 totaled EUR 107.3 million and its EBITDA was EUR
55.8 million. The Technopolis Plc share (TPS1V) is listed on NASDAQ OMX
Helsinki.
Distribution:
NASDAQ OMX Helsinki
Main news media
www.technopolis.fi