Keskinäinen Eläkevakuutusyhtiö Ilmarinen agreed to acquire 51% stake in Kiinteistöosakeyhtiö Helsingin Sähkötalo from Nurminen Logistics Oyj for approximately ?18 million on June 10, 2024. The transaction price is ?17.3 million, and the sale of the real estate company's shares frees up approximately ?11 million in cash resources for the company, reduces the amount of interest-bearing financial liabilities by approximately ?12 million, and improves the company's key financial figures such as equity ratio, gearing and the ratio of interest-bearing net debt to EBITDA. As the company's balance sheet becomes lighter, the company's ability improves to use capital effectively and to produce a better return on invested capital.

The funds from the sale will be used to pay off interest-bearing financial debts and to implement future growth plans. According to a preliminary calculation, the transaction will result in a capital gain of approximately ?2.1 million, which will be recorded as a non-recurring, comparability-affecting item in the Q3 2024 result. The final transaction price will be specified based on the target company's cash resources at the time of the transaction on September 30, 2024.

The transaction is expected to close on September 30, 2024.