Nokia is in financially bad position and they are trying to stabilize it by selling non-core assets such as their own HQ in Finland.
Espoo, Finland â€“ Nokia has agreed to sell and lease back its head office building in Espoo, Finland on a long-term lease to Finland-based Exilion. We expect to complete the sale by the end of 2012. The selling price is EUR 170 million.
â€œWe had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokiaâ€™s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis,â€ said Timo Ihamuotila, CFO, Nokia.