January 5, 2007
Property transactions related to Kesko Food's sale of Rimi Baltic shares have been implemented
Fiesta Real Estate AS, an Estonian subsidiary of Kesko Corporation, has today sold the food trade properties leased to Rimi Baltic AB in Estonia to Rimi Baltic for ¤50 million. The capital gain from the property transactions to Kesko is anticipated to be approximately ¤25 million, which will be recognised for the first quarter of the year 2007.
The property transactions now implemented were agreed at the same time when Kesko Corporation's subsidiary Kesko Food Ltd signed an agreement with ICA Baltic AB to sell its shareholding in Rimi Baltic AB to ICA Baltic.
Kesko has previously published stock exchange releases concerning the deal on 10 October 2006, on 12 December 2006 and on 18 December 2006.
Arja Talma, Senior Vice President, CFO, Kesko Corporation, tel. +358 1053 22113.
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