Glaston Corporation has today closed the sale and leaseback of its factory property complex located in Tampere, Finland as announced in a stock exchange release on 21 February 2013.
The buyer of the property complex is Tampereen Mummu ja Poika Oy through its wholly owned real estate companies. Tampereen Mummu and Poika Oy is a real estate group belonging to Lahtiset Yhtymä. The value of the sale is EUR 12.5 million, of which the estimated gain on the sale will be above EUR 3 million.
Glaston has signed a long term lease contract with Tampereen Mummu and Poika Oy and Glaston’s operations in Tampere Finland will continue without changes. The annual cost effect of the rent for Glaston will be approximately EUR 1.1 million as of 1 April 2013.
