Borenius advised Kemira’s pension fund Neliapila on entering into a preliminary agreement regarding the sale of real estate to Bonava Suomi Oy

We advised Kemira Oyj’s pension fund Neliapila on entering into a preliminary agreement regarding the sale of a piece of real estate to Bonava Suomi Oy. The object of the sale is a land area located in Finnoo, Espoo, that is approximately 50,000 sqm in size. Kemira’s largest research centre, which hosts over 150 scientists and experts, is currently located on the said piece of land.

Kemira, Neliapila and Bonava intend to design and develop the real estate for residential and office use. For this purpose, the parties seek to change the city plan. The final real estate purchase agreement will be signed once the provisions of the preliminary agreement have been fulfilled and the city plan has become final.

Kemira Oyj is a global chemical industry group that is listed on NASDAQ Helsinki. Kemira aims to improve its customers’ water, energy and raw material efficiency. Kemira has some 4,800 employees, and it is headquartered in Helsinki, Finland.

Bonava Suomi Oy is part of the Bonava group, which is one of the largest residential development companies in Northern Europe.