Brief: Stockmann Sells Its Department Stores In Estonia, Latvia

Lindex Oyj

30/12/2021 06:20

Dec 30 (Reuters) - Stockmann Oyj Abp  STOCKA.HE :
    * SAID ON WEDNESDAY IT HAS SOLD ITS DEPARTMENT STORE
PROPERTIES IN
TALLINN, ESTONIA, AND IN RIGA, LATVIA, TO VIRU KEEMIA GRUPP
(VKG)
    * TOTAL SALES PRICE IS APPROXIMATELY EUR 87 MLN
    * WILL USE PROCEEDS FROM THE SALES OF PROPERTIES IN FULL TO
REDUCE
ITS SECURED RESTRUCTURING DEBTS
    * WILL CONTINUE ITS DEPARTMENT STORE OPERATIONS IN TALLINN
AND
RIGA UNDER LONG-TERM LEASEBACK AGREEMENTS MADE WITH THE NEW
OWNER
    * LEASES WITH STOCKMANN'S TENANTS WILL CONTINUE MAINLY WITH
THE
CURRENT CONCEPT
    * SALES PROCESS OF DEPARTMENT STORE PROPERTY IN HELSINKI
CITY
CENTRE IS PROCEEDING AS PLANNED

 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr3G5t3d
 Further company coverage:  STOCKA.HE  

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