Wärtsilä Gains €25-million on Sato Sale

Wärtsilä Corporation has sold all of its 1.987.940 shares in housing investment company Sato Oyj.

Wärtsilä will record a capital gain of approximately EUR 25 million on this sale. The tax on the capital gain is approximately EUR 6 million.

Sato Corporation engages in the housing investment business. The company operates rental apartments. As of September 30, 2011, it held a total of 23,225 rental homes in Finland and St. Petersburg. The company was founded in 1940 and is based in Helsinki, Finland.