Nokia selling headquarters in Finland, but will remain there with long-term lease

Alex Wagner
Editorial Director of News and Content from  Omaha, NE
| Published: December 4, 2012

Nokia CEO Stephen Elop

Nokia announced this morning that it'll be selling its headquarters in Espoo, Finland, but the company won't be packing up a single item. That's because Nokia will be leasing back the head office from the buyer, another Finland-based company named Exilion, which will be buying the building for around $222 million. The sale is expected to close before the end of 2012.

Nokia has been operating in this head office in 1997, and Nokia CFO Timo Ihamuotila indicated that the company will be remaining there in the long-term. The whole situation may sound kind of strange to some, but Ihamuotila says that Nokia is pretty happy with the deal, which will give the Finnish firm some extra cash in its pocket while also allowing it to stay in its Espoo headquarters. The brief announcement of the deal from Nokia is available at the link below.

Via Nokia