Change in SATO Corporation's shareholdings
2 June 2014
SATO Corporation shareholder Varma Mutual Pension Insurance Company (Varma) has announced that it has sold 50% of its shares in SATO to the Dutch pension fund asset company APG. This makes APG the second-largest shareholder in SATO. Following the transaction, Varma's shareholding in SATO is around 22.8%.
APG Asset Management N.V. is a Dutch pension fund asset manager. The company represents 4.5 million active and retired participants from the public and private sectors representing over 30% of all collective pension schemes in the Netherlands. APG managed pension assets of more than €359 billion as at the end of April 2014.
- The transaction adds one of the world's largest property investors to SATO's ownership. The transaction carried out by APG and Varma is proof of SATO's position as a housing investor and yet another example of international investors' interest in the Finnish property market, says Varma's Chief Investment Officer Reima Rytsölä.
SATO has one series of shares, and each share carries one vote. The number of SATO Corporation shares totals 51,001,842.
For more information contact:
Juha Laaksonen, Chairman of the Board, phone +358 50 452 4519
Erkka Valkila, President and CEO, phone +358 201 34 4001 or +358 50 62 050
Reima Rytsölä, Chief Investment Officer, phone +358 500 482 691