CapMan divests its real estate consulting business

CapMan Press Release 22 June 2011 at 8.00 a.m. EET

CapMan divests its real estate consulting business

CapMan will sell its real estate consulting business to a consortium made up of Markku Hietala, Matti Karlsson, Vesa Olkkola, and Pasi Nieminen. The latter will continue the business in a new company under the name Realprojekti Oy. The transaction is expected to be closed on 30 June this year and is not projected to have a substantial impact on CapMan's 2011 result. A letter of intention concerning the sale was announced on 4 February 2011.

The transaction covers the property development and planning, commercial consulting and letting, project and construction management, and shopping centre management operations of CapMan Real Estate's consulting business. Following the sale, CapMan Real Estate will concentrate on managing CapMan's real estate funds and will employ 21 investment professionals. CapMan Partner Mika Matikainen has been appointed Head of the CapMan Real Estate team as of 1 July 2011.

A total of 21 real estate consulting specialists will transfer to the new Realprojekti Oy as part of the transaction. Markku Hietala, who has served as Head of the CapMan Real Estate team, has been appointed Managing Director of the new company and will continue as an Advisor to CapMan Real Estate after the transaction is closed. CapMan and Realprojekti will continue to cooperate in developing CapMan's real estate properties as before.

"The divestment will clarify CapMan's real estate organisation and improve the efficiency in managing and developing of our real estate fund management business in the future," says Mika Matikainen. "The reorganisation is intended to harmonise real estate operations with CapMan's other investment partnerships. At the same time, it will be very important for the future development of our real estate properties to continue close cooperation with Realprojekti following the divestment."

"The transaction will give the consulting business the opportunity to develop as an independent company. Our aim is to strengthen the company's core competences and develop its service offering to meet the growing needs of both current and future customers even more effectively," says Markku Hietala. "CapMan will remain an important partner and customer for the new company."

Further information:
Mika Matikainen, Partner, Head of CapMan Real Estate as of 1 July 2011, tel. +358 207 207 616
Markku Hietala, Managing Director, Realprojekti Oy as of 1 July 2011. tel. +358 500 405 879

CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.4 billion. CapMan has four key investment partnerships - CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 140 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.

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