NOTE 4
In July, the Kesko Group sold ten real estate properties to Ilmarinen Mutual Pension Insurance Company and Kruunuvuoren Satama Oy, a company established by Ilmarinen, the Kesko Pension Fund and Kesko Corporation. The debt-free selling price totalled €107.5 million, and the total gain on the sale was €47.4 million. The gain was recorded as a non-recurring item in other operating income.
In March 2009, the Kesko Group sold four retail store properties to the Kesko Pension Fund. The debt-free selling price was about €50 million. The Group’s €19.7 million gain on the sale was recorded as a non-recurring item in other operating income.
In addition, the Kesko Group sold 13 of its retail store properties in different parts of Finland to Varma Mutual Pension Insurance Company in December 2009. The debt-free selling price was €156 million. The Group’s €63.5 million gain on the sale was recorded as a non-recurring item in other operating income.