Nokia has completed the sale and lease-back of its head office building, say news reports.
Earlier, Nokia had decided to sell and lease back its head office building in Espoo, Finland on a long-term lease to Exilion. The deal with Exilion is worth EUR 170 million.
Timo Ihamuotila, chief financial officer, Nokia, says, ?We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. Owning real estate is not part of Nokia?s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis.?
