University of Vaasa sells its shares in SYK to Hemsö - the purchase price of 15 million euros enables the university to promote its strategic objectives
The real estate arrangements started already in 2019, when the real estate company Vaasan Merikampus Oy, owned by the University of Vaasa and the City of Vaasa, bought the buildings and land of the Palosaari campus from SYK.
– I am very pleased now that the long-term strategic process is coming to an end. It is great that a stable and professional buyer has been found for SYK's shares. The sale will enable us to further the strategic objectives of the University. One of these is the ongoing campus project, for which the sale price will cover a significant part of the more than 20 million budget, says Rector Jari Kuusisto.
Hemsö Country Director Jarkko Leinonen thanks the University of Vaasa for the smooth process and the constructive atmosphere in the negotiations.
– We have found that it has been important for the university to find the right buyer for the company's shares. We intend to meet these expectations. Although this transaction is not related to Vaasa as a location, we are very interested in Vaasa and are happy to invest further in the city, says Leinonen.
The University of Vaasa's stake in SYK, which is the subject of the transaction, amounts to 1.53% and is worth approximately 8 million euros on the University's balance sheet. SYK owns, builds and develops real estate used by universities and higher education institutions outside the metropolitan area. It will be owned by the Finnish State, eight Finnish universities and Hemsö, a real estate investment company specialising in public real estate.