MeritaNordbanken and Ilmarinen sign the Aleksia deal.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--April 10, 2000 MeritaNordbanken and Ilmarinen, the Finnish pension insurance company signed a deal on the share capital of the real estate company Aleksia. Following Ilmarinen's acquisition of the real estate company Aleksia, the parties have agreed that part of the real estate property transferred to the ownership of Ilmarinen be sold gradually on the markets. The sales of the real estate property will be carried out in collaboration Working together on a project. See collaborative software. with MeritaNordbanken and Ilmarinen. The companies have made an agreement on how to divide the profits to be gained from the sales of the real estate property. There are approximately 100 real estates to be sold. The real estates are not located in downtown Helsinki. "We estimate that the sales of the real estate property will have a potential of several millions of Finnish marks Noun 1. Finnish mark - formerly the basic unit of money in Finland markka Finnish monetary unit - monetary unit in Finland penni - 100 pennia formerly equaled 1 markka in Finland . It is in the interest of MeritaNordbanken to handle a substantial part of the sales of the real estate property. Therefore, we have made an agreement that the sales be carried out in collaboration with Ilmarinen," says Pertti Voutilainen, Executive Vice President of MeritaNordbanken. Mr Voutilainen is reponsible for real estate property matters in the Group management of MeritaNordbanken. The sales of Aleksia will reduce the balance sheet value of MeritaNordbanken's real estate holdings by approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.3 billion. The bank will continue to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. the Group's real estate holdings in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with its strategy. "At the same time when the prices of real estate shares in Finland are low, the prices of real estates continue to increase along with the rapid economic growth. I am currently much more optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op than a year ago about our ability to sell all the real estate property, as shown in MeritaNordbanken's balance sheet, on favourable terms from the bank's viewpoint," says Pertti Voutilainen. ------------ Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/04/10/20000410BIT00070/bit0001.doc http://www.bit.se/bitonline/2000/04/10/20000410BIT00070/bit0002.pdf |
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