Stockmann has completed the divestment of Hobby Hall
STOCKMANN plc, Company Announcement 2.1.2017 at 9:00 EET Hobby Hall’s business operations have been transferred to the new owner, the Finnish SGN Group, on 1 January 2017. The transaction was completed according to a letter of intent, announced in a stock exchange release on 28 April 2016. The transaction price does not have a significant effect on Stockmann’s earnings, but the divestment will improve Stockmann’s profitability. Following the divestment, Stockmann is concentrating on its core businesses, which are Stockmann Retail (department stores and online store), Real Estate and