SRV GROUP PLC INVESTOR NEWS 20 DECEMBER 2024 16:00 EET
SRV has sold its last remaining asset in Russia
With a transaction completed on 20 December 2024, SRV has sold its last remaining asset in Russia, a 50 per cent holding in the Pearl Plaza shopping centre in St. Petersburg to CP Invest Limited. The sale is the final part of SRV’s actions pursuing to exit from all of its operations in Russia since 2022.
The other owner of the Pearl Plaza shopping centre is the Chinese company Shanghai Industrial Investment (Holdings) Co., Ltd. In the completed transaction, the whole share capital of the shopping centre has transferred to CP Invest Limited.
The sales price of SRV´s ownership of the shopping centre is approximately 11 million euros. The divestment has no impact on SRV’s operative operating profit.
For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Jarkko Rantala, CFO, tel. +358 (0)40 674 1949, jarkko.rantala@srv.fi
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SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2023, our revenue totalled EUR 610 million. In addition to approximately 800 in-house staff, we had a network of around 3,300 partners.
SRV – Building for life