SRV INITIATES ARBITRATION PROCEEDINGS AGAINST REAL ESTATE COMPANY ESPOONTORI

SRV GROUP PLC STOCK EXCHANGE RELEASE 09.9.2011  KLO  15.00

SRV Construction Ltd initiates arbitration proceedings against real estate company Espoontori. The dispute between concerned parties relates to construction expenses and real estate company Espoontori’s obligation as a client to make the payments required by SRV Construction Ltd as project management contractor. Contract between parties relates to renovation of Espoontori shopping center. Real estate company Espoontori is owned by Citycon Oyj.

Financial value of the dispute is about EUR 4,6 million (VAT included).

SRV Group Plc
Taneli Hassinen
Director, Communications and Marketing
Tel. +358 40 504 3321
taneli.hassinen@srv.fi

 

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