Finnish investors are set to purchase Helsinki's largest arena from Russian oligarchs.

A group of Finnish investors led by Heikki Viitikko, a former owner of a hockey club, is set to acquire Finland's main sports arena, currently owned by sanctioned Russian oligarchs.

This was reported by Reuters agency.

According to Reima Soderwall, the CEO of Trevian Asset Management Ltd, it took her two years to negotiate the terms of the deal with lawyers representing the interests of the Russian owners. “Yesterday we finally managed to sign the documents,” she noted. However, due to the existing sanctions, the deal will require special permission from the European Union.

Finnish investors will pay the market price for the arena, which has a capacity of 15,500 spectators, and according to Helsingin Sanomat, it will be “at least 60 million euros.” Previously, it was reported that Finland planned to initiate the expropriation of this property, but now the citizens of this country will buy the arena from Russian oligarchs Gennady Timchenko and Roman Rotenberg themselves.

Background. Earlier, Mind reported that the Finnish authorities would purchase the “Helsinki Arena” from Russian businessmen Timchenko and Rotenberg.