Stockmann Sells Its Helsinki Department Store for EUR 400 Million to Keva

Montag, 21.03.2022 08:10 von PLX

• (PLX AI) – Stockmann has agreed on the sale of its department store property in Helsinki city centre to the pension provider Keva and continues with a long-term leaseback agreement.
• • The value of the transaction is EUR 400 million, of which approximately EUR 391 million will be paid in connection with the transaction and the remaining part will be taken into account in the rent during the next few years
• • Stockmann will use the proceeds from the sale of the property to fully repay both the secured restructuring debts of EUR 342.6 million and the undisputed unsecured restructuring debts of EUR 21.8 million that are currently subject to the corporate restructuring payment program