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PRESS RELEASE 30 November 2009 at 2:00 p.m.
YIT SOLD SHOPPING CENTRE IN JOENSUU, FINLAND, TO FENNIA
YIT Construction Ltd sold shopping centre located in Joensuu, Finland, to Fennia Mutual Insurance Company on 30 November 2009. The total value of the agreement is approximately EUR 25.5 million, including the liabilities and assets of the company formed by the shopping centre.
The general overhaul and extension of the Joensuu Shopping Centre were completed in late 2008. The shopping centre, with a floor area of approximately 15,000 m2, is located in the centre of Joensuu, and its tenants include an Anttila department store, K-Supermarket, KappAhl, Dressmann and Alko. YIT and a Danish real estate investor have cancelled the agreement made on 2008 on the sale of the Joensuu Shopping Centre. The city of Joensuu is capital of the North Karelia Region in Finland. Joensuu is located next to the Russian border and about 400 km North-East from the capital of the country. From the 1.1.2009 the neighbouring municipalities of Eno and Pyhäselkä will merge with Joensuu. The population will be approximately 72,000.
For further information, please contact: Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 (0)20 433 2905, seppo.martikainen@yit.fi Timo Rantala, Property Investment Director, Fennia and Fennia Life, tel. +358 (0)10 503 5414 Eliisa Anttila, Director of Communications, Fennia, tel. +358 (0)10 503 6961
YIT CORPORATION
Virva Salmivaara, Senior Vice President, Corporate Communications
Distribution: Principal media, local media, www.yit.fi
YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Russia, the Baltic countries and Central Europe. In 2008, YIT's turnover was EUR 3.9 billion. The Group has about 25,000 employees. YIT's share is listed on NASDAQ OMX Helsinki.
