Ramirent to sell and leaseback large industrial property in Norway

Helsinki, Finland, 2017-06-26 08:00 CEST (GLOBE NEWSWIRE) --  

RAMIRENT PLC                                               PRESS RELEASE                                     June 26, 2017  9:00 EET

In line with the principal of leasing its operational facilities, Ramirent has entered into an agreement with a single purchaser for the sale and leaseback of property in Norway currently owned by the Company. Subject to customary conditions, the transaction is expected to be completed by the end of September 2017. The expected cash proceeds from the sale transaction is estimated at EUR 15 million. As a result of the sale Ramirent will recognize a non-comparable capital gain of estimated EUR 1.5 million for the third quarter 2017 in the Norway segment.

The agreement includes the sale of the land and facilities operated by Ramirent and the long-term leaseback by Ramirent of those properties. Conveniently situated in Enebakk southeast of Oslo, the property was acquired in 2016 to build a modern facility bringing four fleet hubs in the Oslo area under one roof to improve supply chain efficiency and customer service.



Franciska Janzon, SVP, Marketing, Communications, IR, tel. +358 20 750 2859, franciska.janzon@ramirent.com

Ramirent is a leading equipment rental group combining the best equipment, services and know-how into rental solutions that simplify customer's business. Ramirent serves a broad range of customer sectors including construction, industry, services, the public sector and households. Ramirent has operations in the Nordic countries and in Central and Eastern Europe. In 2016, Ramirent Group sales totaled EUR 665 million. The Group has 2,741 employees in 292 customer centers in 10 countries. Ramirent is listed on NASDAQ Helsinki (RMR1V).Ramirent - More than machines®.

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