Stora Enso sells its head office building in Helsinki for Euro 30 million

Jun 09, 2008. /Lesprom.com/. Stora Enso has signed an agreement to sell its head office building in Helsinki to Deka Immobilien GmbH of Germany for approximately Euro 30 million. Stora Enso's head office is located in Katajanokka district of Helsinki. A capital gain of approximately Euro 2 million will be recorded as a non-recurring item under Other operations in the segmental reporting of Stora Enso's 2Q results. Stora Enso will rent the building from WestInvest InterSelect, one of the Deka Group's 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 Enso is an integrated paper, packaging and forest products company producing newsprint, magazine paper, fine paper, consumer board, industrial packaging and wood products.