Lehto Group Plc
24 April 2023 at 2.00 p.m. (Finnish time)
Today, Lehto has signed an agreement according to which Lehto sells its rights and ownership related to the Jyväskylä Hippos project to Jyväskylän Yhteissijoitus Ky, owned by the investors, and to the special purpose vehicle Jyväskylä Hippos Ky, which was established at the time for the project. According to the agreement, Lehto hands over the plans, materials and its ownership in the special purpose vehicle to the buyers, and releases from all obligations related to the project.
According to the agreement, the buyers will pay Lehto a total of around 5 million euros. The condition of the payment is that the construction of the project later starts by some party. The payment will be paid in stages over the course of 12 months after the construction of the Hippos project has started.
Lehto has been developing the Hippos project together with the city of Jyväskylä and a group of investors since 2017.
According to Lehto’s current assessment, the contract will not have a significant impact on Lehto’s 2023 result or financial position.
Matti Koskela, EVP, Lehto Group, Business Premises, tel. +358 40 557 6520