TECHNOPOLIS PLC PRESS RELEASE APRIL 2, 2015 at 10.10 a.m.
Technopolis to Sell 40% of Its Kuopio-based Business to KPY
Technopolis Plc is selling 40% of its Kuopio-based business for EUR 50 million. The joint venture partner is KPY Sijoitus Oy, an investment arm of Osuuskunta KPY (KPY Cooperative). The sale will be carried out through a holding company, Technopolis Kuopio Oy, with Technopolis Plc selling its business in the Kuopio region for EUR 125 million. Technopolis Plc owns 60% and KPY 40% of the holding company.
Osuuskunta KPY was founded in 1883 and is a long-term industrial owner and investor based in Kuopio. KPY has major holdings in Enfo Oyj, Voimatel Oy and Vetrea Terveys Oy. Osuuskunta KPY is owned by its 22,600 members.
The deal includes a management agreement that will keep the Technopolis team and its brand in control of the Kuopio campuses for the next 10 years.
“Being a strong local player with a long track record, KPY is an ideal partner for us,” says Technopolis CEO Keith Silverang. He continues, “This is our third joint venture and the first domestic one. It allows us to free up capital for investment while strengthening our position locally and safeguarding our brand.”
“The investment delivers steady cash flow for KPY for the payment of annual interest to our shareholders, ” says Lauri Kerman, CEO of Osuuskunta KPY.
“Cooperation with the local market leader under the Technopolis concept and brand provides excellent opportunities to increase shareholder value. In the future, Technopolis Kuopio Oy can invest in the expansion of existing campuses in the region or in new growth projects, generating potential for investment value creation,” continues Kerman.
More information:
Technopolis Plc
Keith Silverang
CEO
tel. +358 40 566 7785
Osuuskunta KPY
Lauri Kerman
CEO
Tel. +358 50 3575384
Technopolis provides the best addresses for companies to operate and succeed in five countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 20 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,700 companies and their 47,000 employees in Finland, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on NASDAQ OMX Helsinki. www.technopolis.fi
Osuuskunta KPY(KPY Cooperative) is a Kuopio-based long-term industrial owner and investor owned by its 22,600 members. The Osuuskunta KPY Group consists of KPY Sijoitus Oy, Enfo Oyj, Voimatel Oy, Vetrea Terveys Oy and Kiinteistö Oy Siilinjärven Lentokapteeni. In 2014, Osuuskunta KPY Group recorded net sales of EUR 323.6 million and employed almost 1,900 people. www.kpy.fi