SRV has completed the sale of its stake in REDI shopping centre and the reduction of ownership in the Tampere Central Deck and Arena project

SRV has completed the sale of its stake in REDI shopping centre and the reduction of ownership in the Tampere Central Deck and Arena project

SRV GROUP PLC    INVESTOR NEWS   7 FEBRUARY 2020 AT 15.00 EET

SRV has completed the sale of its stake in REDI shopping centre and the reduction of ownership in the Tampere Central Deck and Arena project

SRV announced on 6 February 2020 by way of a stock exchange release new actions to be carried out under its recovery programme, including the sale of SRV’s stake in the REDI shopping centre and the reduction of ownership in the Tampere Central Deck and Arena project.

SRV has today, on 7 February 2020, completed the disposal of its stake in the REDI shopping centre to the project’s co-investors.

In addition to the disposal of SRV’s stake in REDI, SRV has today, on 7 February 2020, completed two disposals, in the first of which the co-investors purchase five sixths of the Ranta-Tampella apartments project, which relates to the Tampere Central Deck and Arena project. In the second disposal, the co-investors purchase three fourths of the shares and partnership interests owned by SRV in the Tampere Central Deck and Arena project. After the disposals, the SRV group will hold a stake of approximately 8.33 per cent in the Tampere Central Deck and Arena project.

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Ilkka Pitkänen, CFO, tel. +358 (0)40 667 0906, ilkka.pitkanen@srv.fi

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SRV in brief

SRV is developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in growth centres in Finland and Russia. Our revenue in 2019 was EUR 1,061 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.

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