Nokia sells its HQ building and leases it back

摘要

Embattled smart phone vendor Nokia will get more than $200 million in much needed cash by selling its impressive headquarters building in Espoo, Finland, and leasing it back.The buy and lease back option is a favoured tactic of organisations that are asset rich but cash poor. They get the cash up front and then pay rent - it's a bit like a loan, except you end up with nothing. The complex was sold to Exilion Capital, and large Finnish property developer and owner of a large software company of the same name, for €170 million ($213 million).