January 23, 2018 / 10:25 AM / 4 months ago

Stockmann says continuing talks over Nevsky Centre sale

HELSINKI, Jan 23 (Reuters) - Finnish department store chain Stockmann is continuing talks to divest its Nevsky Centre property in St. Petersburg, the company’s chief executive said on Tuesday.

Russian business daily Kommersant reported on Monday that investment company O1 Group had withdrawn from negotiations to buy the department store property with a book value of 181 million euros ($221.58 million).

“We are in talks with several parties... The property is up for sale and active negotiations are continuing. I will not comment on individual companies,” Stockmann CEO Lauri Veijalainen told Reuters.

O1 Group was not immediately available for comment. ($1 = 0.8169 euros) (Reporting by Tuomas Forsell, editing by Terje Solsvik)

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