Acquisition of a minority stake (31.7%) in LAMDA MALLS S.A.
LAMDA DEVELOPMENT takes full control of LAMDA MALLS
Maroussi, 15 July 2022
LAMDA DEVELOPMENT S.A. (the “Company”), in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, further to the announcement dated 23.05.2022, hereby announces that the contractual conditions have been fulfilled for the purchase of a minority stake (31.7%) in its subsidiary LAMDA MALLS S.A., held by Wert Blue S.a.r.l, 100% subsidiary of Värde Partners, for a cash consideration of €109m. In fulfillment of the relevant contractual terms, the acquisition of the said minority stake(31.7%) will be carried out by LOV S.M.S.A, 100% subsidiary of the Company and owner of the shopping mall The Mall Athens.
Therefore, the Company takes full control of the subsidiary LAMDA MALLS S.A., which in turn holds all the shares of LAMDA DOMI S.Μ.S.A. and PYLAIA S.M.S.A., owners of the shopping malls Golden Hall and Mediterranean Cosmos respectively.
The said transaction forms part of the Company’s existing strategy to further develop the Shopping Malls’ activities.