The company is now wholly owned by the tenants of the facilities, that is, the University of Helsinki, Hanken School of Economics and the University of the Arts Helsinki.
The share repurchase will be financed in full by a long-term loan taken out by Helsingin Yliopistokiinteistöt Oy. The price is based on market price estimates by independent evaluators. The deal will not affect the University’s funding for teaching and research.
An investment in the future
According to Rector Jukka Kola, the deal has been one of the University of Helsinki’s goals ever since the establishment of Helsingin Yliopistokiinteistöt Oy, and will strengthen the University’s solvency in the long run. It will provide the University with less expensive facilities and help the University use them more efficiently, since unneeded facilities and property can now be leased or sold to outsiders.
“The Government’s cuts targeting the University of Helsinki are a grave threat to the quality of teaching and research,” says Rector Kola. “The share repurchase made by Helsingin Yliopistokiinteistöt Oy is a strategic decision which offers greater leeway under these increasingly restrictive economic conditions. It is an investment in the future.”
On Wednesday, 26 August, the Natural Resources Institute Finland signed a lease agreement on its relocation to Viikki Campus. The agreement is part of the University’s ongoing efforts to enhance its facilities use and will provide Helsingin Yliopistokiinteistöt Oy with outside rental income.
Helsingin Yliopistokiinteistöt to repurchase its shares from the Government
The University to make an offer for property investment company shares