Finland’s SRV says sells Russian assets for 4 mln euros

HELSINKI, Aug 2 (PRIME) -- Finnish real estate developer SRV has sold the shares and land sites of its Russian subsidiary SRV Russia Oy and the subsidiary’s minority stake in the Moscow Region’s 4Daily mall to Cyprus-based investment company Geomare Investments Limited for 4 million euros, SRV said in a statement on Wednesday.

The sale will have no impact on the operating profit of SRV, the company said.

The company’s only remaining Russian asset is a 50% stake in the Pearl Plaza mall in St. Petersburg, and SRV and the other owner of the mall – China’s Shanghai Industrial Investment (Holdings) Co. Ltd. – are in negotiations on its sale, SRV added.

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