Listed Finnish real estate company Sponda said on Tuesday that it has been informed that a proposal is to go before parliament in Helsinki to transfer the state's large stake in Sponda to Solidium, a wholly state-owned company. The state owns 38 million shares in Sponda, corresponding to more than 30% of all the issued shares.
Listed Finnish real estate company Sponda said on Tuesday that it has been informed that a proposal is to go before parliament in Helsinki to transfer the state's large stake in Sponda to Solidium, a wholly state-owned company. The state owns 38 million shares in Sponda, corresponding to more than 30% of all the issued shares.
The Council of State has proposed that the State's stakes in seven other firms also be contributed to Solidium.
The Financial Supervision Authority has granted Solidium an exemption order from the obligation that would otherwise arise to make a public offer to purchase the other shares of Sponda. The FSA based its decision on the reasoning that control over the Sponda shares would not be transferred, since the Finnish state is the sole shareholder in Solidium.
Sponda Plc specialises in owning, leasing and developing office, retail and logistics propertiesd in the largest cities in Finland and Russia. The fair value of Sponda's investment properties is approximately EUR 2.8 bn and the leasable area is around 1.4 million m2.
