Bonava sells its Russian "daughters" for 98 million euros (1.1 billion Swedish kronor). The closing of the transaction depends on the approval of the authorized body. This is stated in the company's message.
The business will be sold to the Russian developer of commercial and residential real estate G-Group (main activity in Kazan, also active in St. Petersburg).
It is expected that the transaction will be completed within six months, and after that all Bonava operations in Russia will cease, and all obligations will be assumed by the buyer.
Bonava is a leading residential real estate developer in Europe. Bonava is headquartered in Stockholm, Sweden, and Bonava shares and green bonds are listed on Nasdaq Stockholm.
In 2021, the company operated in Germany, Sweden, Finland, Norway, St. Petersburg, Estonia, Latvia and Lithuania. The company has decided to curtail its activities in Denmark, as well as its activities in St. Petersburg.
The G-Group business was founded in 1996. Currently, it is represented by two main brands: Unistroy — working in the field of residential real estate, and UD Group — working in the field of commercial real estate.
