Kesko Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Kesko Oyj contemplates setting up real estate investment trust
Kesko Oyj:Says contemplates selling some of the store sites it owns to a trust to be set up with Kesko as one of its significant investors.Says Kesko would continue its operations in the store sites under long-term leases signed in connection with their sales to the trust.Says the objective is to set up a trust of mainly Kesko-owned store sites and shopping centres in Finland, Sweden and Russia with a maximum fair value of approximately 750 - 950 million euros.Says the trust is planned to be made available to private investors and listing of units is also being assessed.Says the possible trust is expected to be launched in the course of 2014.Says launching the real estate investment trust depends in addition to investor interest on whether it is possible for Kesko to achieve such terms and conditions in the arrangement that are economically justifiable for it.Says starting a real estate investment trust is also subject to the authorisation of the Financial Supervisory Authority.
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