SATO's Rental Housing Supply Increases by 1,255 Homes

Finland — SATO Corporation has acquired the shares of SVK Yhtymä Oy.The transaction will result in the transfer of 1,255 rental homes mainly completed in the 2000s to SATO. Responding to the highest demand in rental housing in terms of their size, the average floor area of these homes is 55 sqm.

2016-04-15

President and CEO Saku Sipola from SATO:

- At SATO we want to offer our customers homes in areas with the highest demand.Population growth rates and the need for rental housing are the highest in the Helsinki Metropolitan Area and Tampere, which is where most of the apartments now acquired are located.

- The tenancies of the residents of the homes now bought by us will continue, and the residents will receive SATO customer cards with customer benefits. We'll visit all the properties during the spring to listen to the residents' thoughts of their homes and houses.

It has been agreed in conjunction with the transaction that the sellers will subscribe to SATO Corporation's shares in a directed share issue taking place during the spring.