Stockmann has sold the Nevsky Centre property in St. Petersburg
STOCKMANN plc, Investor news 24.1.2019 at 16:35 EET The sale of Stockmann’s Nevsky Centre shopping centre to the new owner PPF Real Estate has been completed. The transaction included Stockmann’s fully-owned Russian subsidiary, OOO Stockmann Nevsky Centre, which owns 100% of the Nevsky Centre property. Further information on the transaction is available in stock exchange releases published on 16 October and 18 December 2018. The transaction price was EUR 171 million and the transaction had a positive cash flow effect of approximately EUR 141 million on Stockmann after taxes. Stockmann