Business news from Ukraine

DRAGON CAPITAL TO BUY TWO SHOPPING MALLS IN UKRAINE

Cypriot Dragon Capital Investments Limited is going to acquire shares of Arricano Real Estate Plc developer’s Cypriot subsidies: Museo Holdings Limited and Sunloop Co limited, which would grant over 50% of the votes in the management body of the companies. According to an agenda of the Antimonopoly Committee of Ukraine (AMCU), the regulator will consider the issue of granting permission for the transaction at a meeting on September 12.

As reported, Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.

According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.

Arricano is one of the leading real estate developers of shopping centers in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.

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ARRICANO DEVELOPER TO SELL TWO SHOPPING MALLS IN KRYVYI RIH AND ZAPORIZHIA

Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.
“Arricano is pleased to announce it has entered into negotiations to sell two of its properties in its property portfolio, Sun Gallery (located in Kryvyi Rih, Ukraine) and City Mall (located in Zaporizhzhia, Ukraine),” reads an announcement of the company posted on London Stock Exchange (LSE) on July 31.
The developer said it has entered into non-binding heads of terms with Dragon Capital Investments Limited and with other parties in relation to such sale.
“A sale of the properties is a part of Arricano Real Estate PLC global strategy, due to which received funds will be meant for the development of portfolio and strengthening of the company’s positions,” Arricano CEO Mykhailo Merkulov told Interfax-Ukraine.
According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.

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