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UPDATE 1-Finland's Kesko sells its agricultural trade stores to Lantmannen
April 11, 2017 / 10:11 AM / 7 months ago

UPDATE 1-Finland's Kesko sells its agricultural trade stores to Lantmannen

(Adds detail, quote)

April 11 (Reuters) - Finnish retailer Kesko said on Tuesday it will sell its agricultural trade chain K-maatalous to Sweden’s Lantmannen EK for 38.5 million euros ($40.83 million).

* Kesko said it will record a profit of 13 million euros on the divestment.

* K-maatalous reported sales of 334 million euros and operating profit of 5.3 million euros in 2016.

* “In line with its strategy, Kesko will be an increasingly focused company in the future and concentrate on the Finnish grocery trade, the building and technical trade and the car trade,” Kesko’s CEO Mikko Helander said in a statement.

* Kesko said the deal is expected to be completed no later than the third quarter of 2017. Source text for Eikon: Further company coverage: ($1 = 0.9430 euros) (Reporting by Tuomas Forsell and Gdynia Newsroom)

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