STOCKHOLM, Sweden, Feb. 5, 2003 (PRIMEZONE) -- Nordisk Renting Oy is acquiring the head office of world-leading consulting firm Jaakko Poyry Group Oyj in Vanda, on the outskirts of Helsinki. At the same time the parties will sign a 20-year leasing agreement on the property. The purchase price is MEUR 48, roughly equivalent to MSEK 440. The deal also encompasses half-ownership in an adjacent multi-storey car-park with a total of 800 spaces.
Jaakko Poyry Group is a global technology-oriented consulting and engineering firm operating in forestry, energy, infrastructure and the environment. The group has 4,600 employees in 30 countries and the turnover in 2001 was MEUR 430. Jaakko Poyry Group has been listed on the Helsinki Stock Exchange since 1997.
"We are aiming to concentrate our financial assets on our core business, which is consultancy and engineering," said Erkki Pehu-Lehtonen, President and CEO of Jaakko Poyry Group Oyj. "We are planning to remain in our Vanda headquarters for a long time, so this 20-year rental agreement suits us well, with Nordisk Renting as a professional long-term real estate owner."
The head office is just over 25,000 square metres, with a strategic location in Vanda, close to the airport and approximately 15 kilometres from central Helsinki. The deal also gives Jaakko Poyry Group the option to acquire the property in the future at a pre-determined price.
"We are pleased to be able to count world-renowned Jaakko Poyry Group among our larger customers," said Reinhold Geijer, President and CEO of Nordisk Renting AB. "Finland is forming an increasing proportion of our business activities. More and more leading Finnish companies, just like Jaakko Poyry Group, are choosing to lease their real estate rather than own it, and this trend looks set to continue."
For further information, please contact:
Reinhold Geijer, President and CEO Nordisk Renting AB tel +46 (0)8-670 98 00 or +46 (0)70-314 91 05 Vesa Nummijarvi, Business Manager Nordisk Renting Oy tel +358 9 720 608 11 Teuvo Salminen, Deputy to President and CEO Jaakko Poyry Group Oyj tel + 358 9 89 47 28 72 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/02/05/20030205BIT00700/wkr0001.doc www.waymaker.net/bitonline/2003/02/05/20030205BIT00700/wkr0002.pdf