Search

Choose note

Note 21. Non-current assets classified as held for sale and related liabilities
€ million 2016 2015
Intangible assets 3.9 -
Land 10.4 0.3
Buildings and real estate shares 6.7 0.2
Machinery and equipment 1.1 -
Inventories 23.5 -
Total 45.7 0.5
In December 2016, Kesko signed an agreement concerning the sale of properties in use by the building and technical trade in Estonia and Latvia. According to the agreement, the Kesko Group companies will sell three properties in Estonia and four in Latvia, including the real estate companies that own them, to a Lithuanian real estate investment company. After completion of the transaction, the Group companies will lease the properties back for use in their business operations, and the Kesko subsidiary SIA Kesko Real Estate Latvia will become a minority shareholder in the real estate investment company with a 10% ownership interest. The carrying amount of the properties and the real estate companies is around €17 million. The transaction is expected to be completed in the first half of 2017.
In addition, Konekesko Ltd, part of Kesko Group, has signed an agreement to sell its Yamaha representation, Yamarin boat business and certain other representations of it to Inhan Tehtaat Oy Ab, owned by Yamaha Motor Europe N.V. The carrying amount of assets related to the business to be sold is around €28 million. The transaction is expected to be completed in the first half of 2017.
The total liabilities related to the non-current assets classified as held for sale are €0.8 million.