Kesko Completes Eur 200 Million Sale Leaseback of 77 Properties in Finland

Forbes / AFX - March 6, 2006

Kesko, the retailer-owned wholesale group, said it has completed the sale of 77 retail properties in Finland to Niam Retail Holding Finland AB for more than 200 mln eur. All of the premises have been leased back under 5-year or 10-year agreements with options to extend, the group said. Kesko will book a gain of 99.8 mln eur on the sale, which was first announced in December.

The buyer, Niam Retail Holding Finland, is owned by Niam, the Swedish private equity firm, and Crown Asset Management, part of US-based Crown NorthCorp. Sphere: Related Content