Kai Paananen, who sits on the board of the Helsinki Hall and handles Gennadi Timchenko’s affairs in Finland, wants to sell the arena quickly.
The Helsinki Hall has been closed since February 2022. That’s when Russia started its incomprehensible war of aggression in Ukraine.
The arena is owned by Russian oligarchs Gennadi Timchenko and Roman Rotenberg through Arena Events oy.
Arean Events oy holds all the hall company’s C series shares, i.e. 44.98 percent of all shares. They entitle more than 90 percent of the voting power.
Now Kai Paananen, who is handling Timchenko’s affairs in Finland, gives interim information about the matter that has received a lot of publicity.
– These things take time. Negotiations are taking place in order to finish the matter. A year ago, I told the general meeting where we are going. The owners are willing to sell, Paananen tells Iltalehte.
A permit is required
The Helsinki hall is hoped to be operational as soon as possible. The deal is expected to take place in the near future. The hall is in good condition. HARTWALL ARENA
According to the press release issued by the hall company’s board on November 18, 2022, efforts are being made to find a buyer for the shares who is ready to develop the hall’s operations.
– The authorities will finally decide the matter of the arena. They need permission to sell shares. We are with the authorities, Paananen continues.
What could be the timetable for the trade?
– I’m not going to judge. The faster the better. It’s nice venue. Hopefully citizens and fans will soon be able to use it at various events, Paananen continues.
The puck on the vendors’ stage
Gennadi Timchenko, Roman Rotenberg and Kai Paananen are the key figures in selling the arena. Jenni Gästgivar
According to information from Iltalehti, a solution is in sight for the sale of the arena. According to Iltalehti’s insider source, the buyers are ready and committed to the deal.
This is a domestic buyer group. Helsinki hall ending up in the hands of domestic owners is probably the best option for all parties involved.
All in all, in the final phase, there have been a few buyer groups seriously on the move.
The seller’s final solution to the matter is awaited. For the time being, the owners can decide on the sale.
If the matter drags on, the state might come into the picture.
– We have started to prepare a solution for the search for alternatives to how this hall in question and possibly other similar properties could be put into use in the name of the public interest, Minister of Foreign Affairs Elina Valtonen said Ylen Ykkösaamu in August.
45 million
Iltalehti estimated a year ago that the purchase price for the arena would be in the range of 45–50 million euros. According to an insider source, the estimate is still pretty good.
Helsinki Halli oy had difficulties with the payment of ground rent. Now the payment difficulty has been solved. The last rent was paid without any problems.
– The due date was 15.10. i.e. on Sunday. The payment came a few days earlier, the site manager of the City of Helsinki Sami Haapanen confirmed to Iltalehti on Monday.
In August, Helsinki Halli oy first left the ground rent unpaid, but later paid the full amount.
– It was several weeks late, but now there are no more open rental receivables, Haapanen says.
This year, the ground rent is 386,000 euros. The amount changes annually with index revisions.
The payment is made four times a year.