Partnera reduces its holdings in Suomen Hoivatilat Plc

Partnera Oy has through its subsidiaries Nurture Property Holding Oy and Nurture Real Estate Holding Oy (together "Partnera") agreed to sell 3,767,012 shares in Suomen Hoivatilat Plc ("Hoivatilat" or "Company") to a new Finnish limited company to be incorporated, the shares and votes of which will be held 50.00% by Kusinkapital Ab or a company controlled by it and 50.00% by Föreningen Konstsamfundet r.f.

The shares sold represent approximately 14.81% of all shares in Hoivatilat. Hoivatilat has today published the major holdings notifications it has received in relation to the transaction.

The transaction is expected to be settled by 12 December 2018.

Partnera made its current investment in Hoivatilat in 2015 prior to the Company's IPO.

"Having been a shareholder of Hoivatilat through the phase of significant growth and development into a stock exchange listed company, we have now, after carefully reviewing the alternatives for our holding, found a solid new owner who can support the Company's future growth," comments Partnera Oy's CEO Jari Pirkola.

After the transaction announced today, Partnera Oy will own 3.93% of the shares in Suomen Hoivatilat Plc.

"We have followed the Company since its IPO and our aim as long-term investors is to support the growth of the Company within its current business areas, schools and international projects" comment Paul Hartwall, the CEO of Kusinkapital Ab and Stefan Björkman, the CEO of Föreningen Konstsamfundet rf.

Release (pdf).