SRV sold the shares of its subsidiary SRV Russia Oy to the Cyprus-based investment company Geomare Investments Limited in a settlement completed the day before for four million euros, according to Sputnik news agency.

According to the company, the sale is part of the exit measures from its operations in the Eurasian country, and will have no impact on the company’s operating income.

Specifically, SRV’s Russian subsidiaries and its land in Russia were transferred, as well as a minority stake in the 4Daily shopping center near Moscow.

Following the transaction, the only remaining asset in Russia will be a 50% stake in the Zhemchuzhnaya Plaza shopping center in St. Petersburg.

The co-owner of this shopping center is China’s Shanghai Industrial Investment Co. Ltd, and SRV is actively negotiating to sell its stake.

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