Stockmann’s Russian department stores sold

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Stockmann has today completed the divestment of its department store business in Russia to Reviva Holdings Limited. The transaction has been approved by the Russian Federal Antimonopoly Service.

Reviva bought 100 percent of AO Stockmann, a Russian subsidiary of Stockmann plc, and assumed operations of all seven department stores in Russia from 1 February 2016.

Stockmann will continue to operate the Nevsky Centre shopping centre in St Petersburg, Russia.