Nokia to sell and lease back its Espoo headquarters

Nokia has cut back its workforce, cut its spending and now the company is selling the building that houses its headquarters in Espoo, Finland. Nokia confirmed in a press release that it is selling the building for EUR 170 million to Finnish real estate investment company Exilion. Nokia expects to complete the sale of the building by the end of 2012.

Once the building has traded hands, Nokia plans to lease the building from its new owners. Nokia says the building “is not part of Nokia’s core business” and it is “willing to exit these types of non-core assets” when the opportunity arises. Nokia has used this building as its headquarters since 1997.

[Via Nokia]

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