Glaston Corporation has signed a binding letter of intent on the sale and leaseback of its factory property complex located in Tampere, Finland.
The buyer of the property complex is Tampereen Mummu ja Poika Oy, a real estate group belonging to Lahtiset Yhtymä, on behalf of the real estate companies to be formed.
The value of the sale is €12.5 million, of which the estimated gain on the sale will be approximately €3 million. In the letter of intent, the parties have agreed on signing a long-term lease contract.
The property complex consists of four plots and buildings. This area covers approximately 11 hectares and has five buildings and four unheated storage structures.
The sale is estimated to be completed by the end of March 2013.