Sanoma to book a EUR 11 million non-recurring capital gain in its fourth quarter result from a sale of land area
(Thomson Reuters ONE) -
Press Release 10/11/2011 at 14:00 (CET +1)
Sanoma Corporation has sold some 40,000 m2 of residential building rights in
Keimola area in the city of Vantaa to a new company owned by the Finnish
construction companies SRV Rakennus Oy, Sato-Rakennuttajat Oy and Asuntosäätiön
Rakennuttaja Oy. The total value of the transaction is EUR 12.9 million, which
will be paid in three instalments during 2011-2013. Since the ownership of the
area is transferred at the time of the first payment, Sanoma will book a non-
recurring capital gain of some EUR 11 million in its fourth quarter result. The
building of the area will begin in 2013.
Sanoma acquired the land area in Keimola in 1980s as a potential site for
production facilities. The current city plan allocates most of the area for
residential use. After this transaction, Sanoma will still have some 20,000 m2
of residential building rights and some 34,000 m2 of office building rights in
the area.
Sanoma Corporation
Kim Ignatius
Chief Financial Officer
Additional information: Sanoma's Investor Relations, Anna Tuominen tel.
+358 105 19 5066 or ir(at)sanoma.com
Sanoma.com
Sanoma inspires, informs and connects. As a diversified media group, we bring
information, experiences, education and entertainment to millions of people
every day. We make sure that quality content and interesting products and
services are easily available and meet the demands of our readers, viewers and
listeners. We offer a challenging and interesting working environment for nearly
20,000 people in over 20 countries throughout Europe. In 2010, the Group's net
sales totalled EUR 2.8 billion.
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originality of the information contained therein.
Source: Sanoma Oyj via Thomson Reuters ONE
[HUG#1562857]
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2011 - 13:01 Uhr
Sprache: Deutsch
News-ID 86533
Anzahl Zeichen: 2412
contact information:
Town:
Helsinki
Kategorie:
Business News
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