Nokia sells headquarters

Nokia (OMX: NOK1V, NYSE:NOK) has managed to find another 170 million in liquidity as it has found a taker for its 48 000 square metre headquarters in Keilaniemi, Espoo for 170 million Euros. The company will lease the premises back from the buyer which is named Exilion. The real estate investor is owned by four Finnish public pension funds. This continues a run of non-core asset disposals as Nokia is fighting off credit rating downgrades by building cash buffer. The sale is expected to complete by the end of this year.