Viking Line: City of Turku redeems the terminal in Turku
The City of Turku has redeemed the terminal in Turku owned by Viking Line. The terminal and related facilities are located in an area in the Port of Turku leased by Viking Line.
Under the original lease agreement, the buildings were to be redeemed on December 31, 2025, but since the Port of Turku decided to begin a major refurbishment of the port and its facilities, the City of Turku now redeems the properties.
The redemption entails an accounting profit of EUR 13.5 M for Viking Line Abp and strengthens the company’s liquidity with EUR 7.9 M.
Viking Line Abp has also entered into a 10-year traffic agreement with the Port of Turku on market terms.
Viking Line Abp has further leased the terminal and related facilities until 31.12.2025 and will thus continue to use the current terminal and facilities in Turku.
Sep 03 2021
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