Finnish office supplies marketing company Beltton-Group Plc signs property sales and lease-back agreement

Nordic Business Report, Nov 12, 2007

NORDIC BUSINESS REPORT-12 November 2007-Finnish office supplies marketing company Beltton-Group Plc signs property sales and lease-back agreement(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Finnish office supplies and computer accessories marketing company Beltton-Group Plc announced on Monday (12 November) that it has signed a property sales and lease-back agreement with Alpha I Oy, a Finnish subsidiary of the Danish company EU Invest A/S.

Under the agreement Beltton-Group will sell its facilities in Vantaa, Finland to Alpha I for EUR6.1m, while at the same time leasing the property back on a long-term agreement.

The sales transaction will resulty in a one-off capital gain of EUR3.5m.

Being a company striving for profitable growth, company acquisitions are a key part of our strategy. Capital released with this real estate sale can be allocated to strengthening our capital structure, as well as potential company acquisitions. I believe that the sale and lease-back is a good solution for us, both strategically and in practice," said Heikki Vienola, CEO of Beltton-Group.

Beltton-Group, headquartered in Helsinki, Finland, sells and markets office supplies, computer accessories, corporate image products and ergonomic products. The company has operations in Finland, Sweden, Norway and Estonia. Beltton-Group is listed on the OMX Nordic Exchange in Helsinki.

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