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Helsinki to attempt to buy out arena owned by Russians

The sellers believe that the voluntary stocks sale transaction is possible even after expiry of the period set by the EU, the source said

HELSINKI, July 1. /TASS/. The city of Helsinki will attempt to buy out the Helsinki Hall sports and concert arena reportedly owned by Russians, the STT news agency said.

The exclusive EU authorization for the deal in view of owners being under sanctions expired on June 30, the news agency informed. The city will attempt to buy the real estate and not the stocks of the company that owns the arena.

The sellers believe that the voluntary stocks sale transaction is possible even after expiry of the period set by the EU, STT said, citing Kai Paananen, who represents interests of Helsinki Hall owners.

The Helsinki Hall arena was opened in April 1997. It can be transformed for different events, with the total capacity from 13,349 people during ice hockey games to 15,000 people during concerts. The Finnish mass media reported earlier that Russian owners purchased the facility in 2013.

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