Stockmann to sell Nevsky Centre in St. Petersburg
STOCKMANN plc, Stock Exchange Release 16.10.2018 at 00:45 EET Stockmann plc has signed an agreement to sell its Nevsky Centre shopping centre property in St. Petersburg, Russia, to PPF Real Estate for a purchase price of EUR 171 million. The value of the Nevsky Center property in the balance sheet on 1.1.2018 was EUR 181 million. The transaction includes Stockmann’s fully-owned Russian subsidiary, OOO Stockmann Nevsky Centre, which owns 100% of the Nevsky Centre property. The closing is subject to approval from the Russian Federal Antimonopoly Service. The aim is to close the transaction