SRV Sells its Stake in Shopping Center and Reduces Ownership in Arena Project

REDI shopping center.

Image: Editor Helsinki

SRV Sells its Stake in Shopping Center and Reduces Ownership in Arena Project

Finland — Construction company SRV has sold its stake in the REDI shopping centre in the Kalasatama district in Helsinki and reduced its ownership in the Tampere Central Deck and Arena project. SRV sold a 40% stake in the shopping centre REDI and its parking premises to the other existing investors of the shopping centre, including Ilmarinen Mutual Pension Insurance Company, Pohjola Insurance Ltd, OP Life Assurance Company Ltd and the LocalTapiola Group.

2020-02-21

As a consequence, Ilmarinen becomes the largest owner of REDI with a 49.9% stake in the property. The final transaction price will be determined later.

In addition, SRV completed two disposals in Tampere. Firstly, SRV has sold a part of its shares and partnership interests in the Tampere Central Deck and Arena project to other investors of the project for approx. EUR 19.3 million.

After the disposals, SRV holds a stake of 8.3 percent of the project. In addition, SRV sold over 80% of the Ranta-Tampella residential project to the co-investors of the project. SRV continues as a main contractor of the Tampere Central Deck and Arena project.

Anthon Näsström

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