Feiholm Invest Oy (“Feiholm”), the principal owner of Condo Nordic Holding AB (“Condo”), and Condo Finland Oy have signed a strategic pledge agreement to enhance Condo’s financial resilience. Feiholm has pledged shares valued at EUR 500 thousand as collateral, committing to cover any credit losses incurred by Condo and ensuring the company’s stability.
This agreement follows Condo’s recent provision of EUR 422 thousand for credit losses tied to the bankruptcy of a minor shareholder. With the pledge now in place, Condo will terminate the provision, reflecting the enhanced financial safeguards offered by Feiholm’s commitment.
“As a major shareholder, we are committed to Condo’s long-term success,” said Erja Holmlund of Feiholm Invest. “This pledge ensures financial security and operational stability.”
Effective immediately and valid through December 31, 2029, the pledge underscores Feiholm’s dedication to safeguarding Condo’s future amidst financial challenges.
Condo is a leading project accommodation and furnished apartment provider, having served corporate clients since 2017. Our mission is to enable hassle-free and comfortable home-like living experience for project teams and individual employees when working on remote sites.
Condo Nordic Holding AB is listed on the Spotlight stock exchange in Stockholm.
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