Mall-operator Stockmann sells its Nevsky Shopping Center in St. Petersburg in Russia to PPF Real Estate for EUR 171m. The property value was booked at EUR 181m at January 01, 2018. The center was owned by Stockmann subsidiary, 000 Stockmann Nevsky Center, which PPF also acquires. Stockmann receives EUR 139m in cash flow which will be used to focus on department stores in Finland and the Baltic countries.
