Business News
Stora Enso sells its head office building in Helsinki for approximately EUR 30 million
Tuesday 10. June 2008 - Stora Enso has signed an agreement to sell its head office building in Helsinki to Deka Immobilien GmbH of Germany for approximately EUR 30 million. Stora Ensos head office is located at Kanavaranta 1 in the Katajanokka district of Helsinki. A capital gain of approximately EUR 2 million will be recorded as a non-recurring item under Other operations in the segmental reporting of Stora Ensos second quarter results.
Stora Enso will rent the building from WestInvest InterSelect, one of the Deka Groups funds. Stora Enso will later relocate its head office to rented premises in the Helsinki metropolitan area that will better meet its future needs.
Stora Ensos head office building in Helsinki was designed by architect Alvar Aalto as the head office of Enso Gutzeit Oy. It was inaugurated in 1961.
Newsec Oy acted as the seller’s advisor in the transaction.